Titagarh Rail Systems witnessed a 1% increase in shares at the NSE opening on February 5, following the company’s announcement of a remarkable 130% year-on-year surge in net profit to Rs 75 crore for Q3.
As of 9:50 am, Titagarh Rail Systems shares were trading at ₹1,046.00. The positive market response was fueled by the regulatory filing on February 5, revealing the company’s robust financial performance in the October-December 2023 quarter of FY2024. During this period, revenue from operations increased by 24.6% year-on-year to Rs 954.7 crore, and EBITDA saw a notable 52.3% increase to Rs 110.7 crore, with a margin expansion of 210 basis points to 11.6%.
Titagarh Rail Systems, based in Kolkata, also recently announced a strategic agreement with the Amber group to venture into the railway component and subsystem business in India and overseas. The deal involves a joint investment of up to Rs 120 crore each by TRSL and Amber group for establishing the new railway component business and fresh equity investment in Firema, Italy.