Titagarh Rail Systems Ltd reported a 16% year-on-year (YoY) decline in net profit at ₹62.8 crore for the quarter ended December 31, 2024, compared to ₹74.8 crore in the same period last year.
Key Financial Highlights (Q3FY25):
- Revenue from operations dropped 5.5% YoY to ₹902.2 crore from ₹954.7 crore.
- EBITDA declined 9.6% YoY to ₹100.1 crore from ₹110.7 crore.
- EBITDA margin contracted to 11.1% from 11.6% YoY due to weaker operational performance.
The company’s board has also approved subscribing to the rights issue of equity shares by Titagarh Firema Engineering Services Private Limited (TFESPL), its joint venture firm. Additionally, amendments to the Joint Venture Agreement (JVA) were approved, paving the way for TFESPL to become a subsidiary of Titagarh Rail.
On Friday, February 14, shares of Titagarh Rail fell nearly 5% in response to the weaker earnings report.
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