RVNL bags contract worth Rs 191.53 crore from South Eastern Railway

Rail Vikas Nigam Limited (RVNL), in an exchange filing on June 21 said that it has secured a contract valued at Rs 191.53 crore from the South Eastern Railway. The contract includes designing, supplying, installing, testing, and commissioning a 132 KV traction substation and associated posts on the Raj Khaswan, Nayagarh-Bolani section.
The project aims to support a loading target of 3000MT and is expected to be completed within 18 months.
"Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from SER HQ-ELECTRICAL/SOUTH EASTERN RAILWAY for 'Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on Rajkhaswan- Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000MT loading target on EPC mode," said RVNL, which specializes in various railway projects, including new lines and electrification.
Meanwhile, RVNL's profit rose by 33.16 per cent, reaching slightly over Rs 478 crore, compared to Rs 359.25 crore in Q4FY23. Additionally, the company's revenue experienced a 17.38 per cent growth, amounting to Rs 6,714.01 crore during the same period.
On Friday, June 21, 2024, RVNL's stock price surged by 5.77 per cent, closing at Rs 409.70. The company's shares traded at Rs 409.90 on June 21, up by 5.84 per cent. RVNL's shares rose approximately 131 per cent over the past six months.