Rail Vikas Nigam Ltd.’s shares fell 4.5% on Thursday following the company’s announcement of its June quarter results during market hours. This Friday, the shares are down more than 4%.
At ₹224 crore, the net profit for the quarter decreased 34% from the previous year.
With ₹4,074 crore in revenue for the quarter, it reported 27% less than the ₹5,571.6 crore it recorded in the same quarter last year.
Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) for RVNL fell by 48% to ₹182 crore, almost halving from the previous year. The EBITDA margin also shrank by 180 basis points, from 6.3% to 4.5%.
August has seen a 13% decrease in RVNL shares thus far. After five months of gains in a row, the stock is seeing its first monthly decline. After August, the share price only fell 20% in February, following a 75% increase in January of this year.
As of 10:31 am, RVNL shares were trading 4.30% lower at Rs 515.30 on the NSE.
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