Rs 4,500 crore order book: This miniratna PSU company bags multiple order worth Rs 727.91 crore; reports an impressive jump in net profit!

Shares of the company gained more than 50 per cent in the last six months.

On August 24, 2023, Railtel Corporation of India Limited informed in the exchange filing that the company has bagged a major work order from Kerala State Information Technology Infrastructure Limited for supply, installation, testing, commissioning and maintenance of ISP Hardware, Software and License for Kerala Fibre Optic Network (KFON). The order is worth Rs 27.91 crores.

The order won another order few days back worth Rs 700 crore from Pimpri Chinchwad Smart City Limited (PCSCL) for providing end-to-end services for monetisation of PCSCL City Network Infrastructure on “Revenue Sharing Model”.

The company recently announced results for the first quarter ended June 30, 2023 (Q1FY24). The revenue of the company for Q1FY24 stood at Rs 467.73 crore which grew by 24.08 per cent YoY. The operating profit of the company stood at Rs 89.27, growing 18.73 per cent YoY while the PAT of the company grew by 48.51 per cent YoY staying at Rs 38.39 crore.

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Railtel Corporation of India Ltd is engaged in the business of information and communications technology (ICT) infrastructure providers and is one of the largest neutral telecom infrastructure providers in India.

The company has more than Rs 4,500 crore worth of order books. The shares of the company gained more than 70 per cent in the last one year and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.