In a significant market surge, RailTel, the state-owned telecom infrastructure provider, witnessed a substantial uptick of nearly 3 percent in its stock value on the morning of October 27. This remarkable boost followed RailTel’s announcement of a robust 23.4 percent growth in profit for the September quarter of the ongoing financial year.
According to details shared in a regulatory filing on October 26, RailTel disclosed a net profit of Rs 68.15 crore, coupled with an impressive revenue growth of 40 percent, amounting to Rs 599.2 crore. Notably, the net sales experienced a substantial increase of 40.94 percent, reaching Rs 599.15 crore. RailTel’s earnings before interest, taxes, depreciation, and amortisation also showed a notable uptick, standing at Rs 128.94 crore, marking a 15.96 percent increase from the last fiscal year’s Rs 111.19 crore.
RailTel, a key player in the state-owned sector, is dedicated to establishing a nationwide broadband telecom and multimedia network across all corners of the country. Its focus extends beyond telecommunication; the company is actively involved in the modernization of train operations and administration network systems.
Adding to RailTel’s recent achievements, the company secured a significant order valued at Rs 68 crore. This order encompasses the design, supply, installation, testing, commissioning, as well as the operations and maintenance of a data center and disaster recovery center. This project is in association with the Integrated Command and Control Centre for Jammu Smart City Limited, showcasing RailTel’s expertise and expanding portfolio.
As of 11:00 AM, RailTel’s stock was trading at Rs 224.45 on the National Stock Exchange, reflecting a notable 3.08 percent increase from the previous close. Over the past six months, RailTel’s stock has demonstrated an impressive rally, surging by over 98 percent, underlining the company’s strong performance and investor confidence. For live market updates, enthusiasts can follow RailTel’s market blog, providing real-time insights into the company’s dynamic market presence.
