Shares of Rail Vikas Nigam Limited (RVNL) continued to decline on Friday, falling nearly 3.5% on the Bombay Stock Exchange (BSE). advertisementDisappointing Q1 resultsFor the quarter ending June 2024, RVNL reported a 34.7% drop in consolidated net profit, falling to Rs 223.92 crore from Rs 343.09 crore in the same quarter last year. The company's revenue from operations also took a hit, dropping 26.9% year-on-year to Rs 4,073.80 crore, down from Rs 5,571.57 crore in Q1 FY24. Even then, RVNL shares are still up 341% from their 52-week low of Rs 122. Stock market analysts view RVNL as a company that is likely to benefit from the government’s strong focus on infrastructure development.

Source: Mint August 09, 2024 08:45 UTC