RVNL Gets Letter Of Acceptance From East Central Railway For Rs 187-Crore Order
In October, Rail Vikas Nigam Ltd. had informed stock exchanges that it emerged as the lowest bidder for the contract.
Rail Vikas Nigam Ltd. on Tuesday announced that it has received a letter of acceptance from East Central Railway for an order worth Rs 186.76 crore.
According to an exchange filing, the contract entails "design, supply, erection, testing and commissioning of traction substations with associated switching posts for upgradation work of electric traction system from 1X25 to 2X25 KV AT feeding system in Gomoh-Patratu section of Dhanbad Division of East Central Railway".
Earlier this fiscal, in October, the public sector enterprise had informed stock exchanges that it had emerged as the lowest bidder for the contract.
And, in September, RVNL was also declared the lowest bidder for another order worth Rs 180 crore from the East Central Railway. That order involves "design, supply, erection, testing and commissioning of 2x25KV feeder line along the track", and "modification works to meet 3,000 MT loading target" for up and down line of Garwa Road-Mahadiya section of Dhanbad division.
According to the terms of the order, the construction work should be completed within 540 days, the filing added.
Last week, on Nov. 29, the railway infrastructure contractor had informed stock exchanges that it had bagged an Rs 642.56-crore order from Punjab State Power Corp. That order involves “development of distribution infrastructure work for package-3 central zone for execution of HT/LT Infrastructure loss reduction works under reforms-based and results-linked, revamped distribution sector scheme in the state of Punjab”.
On Nov. 26, the PSU had informed exchanges that the Ministry of Railways had approved the appointment of Mritunjay Pratap Singh as the director of its operations. He will remain in charge of the post till June 30, 2028.
For the September quarter of the ongoing fiscal, the company's consolidated net profit had declined 27% year-on-year to Rs 286.9 crore. RVNL's revenue from operations witnessed a decrease of 1.2% to Rs 4,854.95 crore, as against Rs 4,914.3 crore in the year-ago period.
On Tuesday, shares of RVNL closed 0.15% higher at Rs 437.60 apiece on the BSE, compared to a 0.74% advance in the benchmark Sensex.
