Titagarh Rail Systems Ltd.'s net profit increased in the fourth quarter of fiscal 2024, led by higher other income of Rs 14.7 crore, and was in line with analysts' estimates.
The company's consolidated net profit jumped 63.7% year-on-year to Rs 78.9 crore in the quarter-ended March, as compared with Rs 48.2 crore over the same period last year. Analysts polled by Bloomberg had estimated a profit of Rs 78.4 crore.
Revenue from operations rose 8% to Rs 1,052.4 crore in the January-March period, as against Rs 974.2 crore last fiscal, though it missed analysts' estimates of Rs 1,125.5 crore.
Titagarh Rail Systems Q4 FY24 Highlights (Consolidated, YoY)
Revenue rose 8% to Rs 1,052.4 crore vs Rs 974.2 crore (Bloomberg estimate: Rs 1,122.5 crore).
Ebitda increased 25.7% to Rs 120 crore vs Rs 95 crore (Bloomberg estimate: Rs 123.4 crore).
Ebitda margin expanded 160 basis points to 11.4% versus 9.8% (Bloomberg estimate: 11%).
Net profit up 63.7% to Rs 78.9 crore vs Rs 48.2 crore (Bloomberg estimate: Rs 78.4 crore).
Revenue growth was primarily led by the company's larger segment i.e. freight rail systems, which recorded 25.8% growth in the quarter to Rs 1,016.9 crore. However, the passenger rail systems segment declined 78.6% to Rs 35.5 crore.
Shares of Titagarh Rail Systems fell 2.06% during Wednesday's trading session, as compared with a 0.16% decline in the BSE Sensex.
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