Railtel Q4 Results: posts 3% increase in Net Profit

RailTel Corporation of India, a public sector undertaking under the Ministry of Railways, reported its financial results for the fourth quarter (Q4) of the financial year 2023-24 (FY24) on May 2, 2024.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : CONCOR signs MoU with Gati Shakti Vishwavidyalaya, Vadodara

key highlights:

Profit: RailTel's net profit for Q4 FY24 was Rs 77.53 crore, reflecting a modest 3% increase year-on-year (YoY) compared to Rs 75.24 crore in the corresponding quarter of the previous fiscal year. 

Total Income: The company's total income for Q4 FY24 stood at Rs 852 crore, registering a significant 20.5% growth YoY from Rs 707.29 crore in Q4 FY23. 

Revenue Growth: RailTel's operating revenue for Q4 FY24 witnessed an impressive 25% growth sequentially compared to the previous quarter.

Full-Year Performance: For the entire FY24, RailTel's total income and net profit surged by 31% each to Rs 2,622 crore and Rs 246 crore, respectively, compared to FY23. 

Future Outlook: RailTel expressed optimism about its future prospects, attributing the growth momentum to a healthy order book and expecting continued growth in operating income in the coming quarters.

Read Also : NMDC Swarojgar Yojana Sparks Self-Employment Revolution in Kondagaon, Chhattisgarh