RailTel Q3 results: Net profit falls even as revenue rises marginally
Premium- The company's revenue from operations ₹417 crore for the reporting period
State-owned RailTel Corporation of India Ltd has reported a consolidated net profit of ₹66 crore in the December quarter, down 4% from ₹69 crore reported in the year-ago period.
The company's revenue from operations ₹417 crore for the reporting period as against ₹410 crore in corresponding period of the last year.
On Tuesday, RailTel shares were down 0.94% to close at ₹105.65 apiece on NSE.
RailTel has also posted a Profit Before Tax (PBT) amounting to ₹88.14 crore during the third quarter.
"Right now we have a very healthy order book of ₹5400+ crore which will translate in our books in coming quarters in phased manner. Currently the focus is on digitization which is boosting our B2B as well as B2C business," Puneet Chawla, Chairman and Managing Director of RailTel said.
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"Our retail board band service RailWire have reached 4.6 lakh subscribers and we are targeting for 5 lakh subscribers and more than ₹280 Cr turnover by end of Mar’22. We are also focusing on our network and infrastructure expansion and upgradation. This will help us expanding our clients as well serving the existing ones better. We have been maintaining positive result even despite 3 waves of pandemic since 2020. We are confident about continuing this momentum in future as well," he said.
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