RailTel Corporation of India has released its financial results for the quarter ended (QE) December 31, 2023, during its board meeting held on January 24, 2024. The company’s operating income during the quarter stood at Rs 6.68 billion in the third quarter (Q3) of the fiscal year 2023-24 (FY24) with 47 per cent year-on-year (YoY) growth and 12 per cent quarter-on-quarter (QoQ) growth. The company has posted a total income of Rs 6.75 billion in Q3 FY24.
Further, the company posted Rs 840 million profit before tax (PBT) in Q3 FY24 as against Rs 430 million in corresponding period of previous year, registering a 95 per cent YoY growth. Profit after tax (PAT) of the company stood at Rs 620 million in Q3 FY24 as against Rs 320 million during the previous quarter registering a YoY growth of 94 per cent.
For the nine months ended on December 31, 2023, RailTel achieved a total income of Rs 17.7 billion and a total PAT of Rs 1.69 billion, registering a 38 per cent and 50 per cent YoY growth respectively.
Commenting on the results, Sanjai Kumar, chairman and managing director, RailTel, said, “Operationally the company has been performing consistently with an impressive growth of 12 per cent on QoQ basis and 47 per cent on YoY basis in operating revenue. Growth in operating revenue and PAT for the nine-month period of FY24 also, has been encouraging. With healthy order book, the company has visibility of substantial growth in operating income in coming quarters.”
