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In the corresponding quarter of the previous fiscal, Titagarh Rail Systems posted a net profit of ₹74.8 crore, the company said in a regulatory filing. The company’s revenue from operations dipped 5.5% to ₹902.2 crore as against ₹954.7 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA fell 9.6% to ₹100.1 crore in the third quarter of this fiscal over ₹110.7 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 11.1% in the reporting quarter as compared to 11.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Also Read: Godfrey Phillips Q3 Results | Net profit jumps 49% to ₹316 crore, revenue surges 27%Titagarh Rail Systems’ board has approved subscribing to the rights issue of equity shares by Titagarh Firema Engineering Services Private Limited (TFESPL), its joint venture company.
Additionally, the board approved amendments to the Joint Venture Agreement (JVA). Following the allotment of shares and execution of the amended JVA, TFESPL will become a subsidiary of Titagarh Rail.
The results came after the close of the market hours. Shares of Titagarh Rail Systems Ltd ended at ₹850.10, up by ₹11.05 or 1.32% on the BSE.
Also Read: KNR Constructions Q3 Results | Net profit jumps 78% to ₹249 crore despite 15% revenue decline
