RailTel chugs along
RailTel Corporation has a lot going for it currently; apart from the generous hike in the Railway Budget by the FM in the Union Budget yesterday, the company, yesterday night announced receipt of new order from State Bank of India for provisioning of 4G LTE connectivity for offsite 15000 ATMs and maintenance for 5 years amounting to Rs. 253 crore.
And a day ago, it had reported a 51.5% (YoY) decline in consolidated net profit to Rs.32 crore for the December 2022 quarter and this was on a 2.5% fall in revenue from operations at Rs.462 crore.
RailTel has declared dividend of Rs.1.50 per share, and has set 8 February, 2023 as the record date.
Sanjai Kumar, Chairman and Managing Director of RailTel said, “We are doing well in this weak market scenario with consistent growth in operational revenue and have been posting healthy profits. Right now, we have a very healthy order book of Rs. 4700+ cr which is steadily translating into revenue in coming quarters in phased manner. Our target segment, which is domestic market, augurs well for our Company due to growing digitization needs of our country.”
The stock is in the green today; the price rose 9.5% to hit an intraday high at Rs.70.50 while its 52-week high is at Rs.145.30 and low is at Rs.62.30.
2nd Feb 2023 at 11:37 am