RVNL shares fall over 4% after Q1 profit declines 35% YoY
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Shares Rail Vikas Nigam (RVNL) fell 4.5% to Rs 514 in Friday's trade on BSE after the State-owned firm posted a 35% year-on-year (YoY) decline in its consolidated net profit at Rs 224 crore for the first quarter ended June 2024. The same stood at Rs 343 crore in the last year quarter. Its revenue from operations during the April-June 2024 period also fell 27% to Rs 4,074 crore against Rs 5572 crore posted in the same period of last year. Meanwhile, on a sequential basis, net profit was down 53% from Rs 478 crore posted in the preceding March quarter. Revenue from operations, meanwhile, dropped 39% QoQ from Rs 6,714 crore in the March 2024 quarter. EBITDA during the reporting first quarter declined 48% YoY to Rs 189 crore, compared with Rs 349 crore in the last year quarter. Meanwhile, margins too fell 180 bps YoY to 4.5%. As per Trendlyne data, the average target price of the stock is Rs 268, which shows a downside of 48% from the cur...