On Monday, June 10, the state-owned RVNL announced that Bangalore Metro Rail Corporation Ltd. (BMRCL) had sent a letter of acceptance to the Siemens-RVNL consortium for a Rs 394 crore project.
Phases 2A and 2B of the Bangalore Metro require the engineering, supply, erection, testing, and commissioning of 33 KV distribution and 750 V DC third rail traction electrification, including traction substations with auxiliary substations and SCADA (Supervisory Control and Data Acquisition) systems, from this project.
According to a stock exchange filing, Siemens Ltd. owns 70 per cent of the consortium, with Rail Vikas Nigam Ltd. holding the remaining 30 per cent.
The exchange filing also stated that the contract must be completed within 910 days.
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RVNL's Financials
RVNL announced a Rs 478.6 crore net profit for the fourth quarter that concluded on March 31, 2024, representing a 33.2 per cent year-over-year increase. During the same quarter in FY23, Rail Vikas Nigam reported Rs 359 crore in net profit.
Compared to the same period in the previous fiscal year, when it was Rs 5,719.8 crore, the company's operating revenue climbed by 17.4 per cent to Rs 6,714 crore. Operating-wise, EBITDA increased by 21.8 per cent to Rs 456.4 crore during the current fiscal year's fourth quarter, compared to Rs 374.6 crore during the same period last year.
In the reporting quarter, the EBITDA margin was 6.8 per cent, up from 6.6 per cent during the same period in the previous fiscal year. Earnings before interest, tax, depreciation, and amortization are known as EBITDA.
RVNL also beat out all other bidders from Central Railway for the "OHE modification work for upgradation of existing 1 x 25 kV electric traction system to 2 x 25 kV AT feeding system in Amla-Nagpur Section in Nagpur division of Central Railway to meet 3000 MT loading target,".
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