RailTel Q3 income rises 24% to Rs. 474 crore
The comopany has posted a Profit Before Tax of Rs 88.14 cr and Profit After Tax of Rs 66.01 cr in Q3FY22
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New Delhi: RailTel Corporation of India announced consolidated income of Rs 474.15 crore in Q3 of FY22, registering a quarter on quarter growth of 24.38 per cent over consolidated income of Rs 381.09 crore in Q2 of FY22, a statement from the company said.
RailTel is a Central Public Sector Undertaking (CPSU) under the railway ministry. With this, RailTel has posted a Profit Before Tax (PBT) amounting to Rs 88.14 crore and Profit After Tax (PAT) of Rs 66.01 crore during the third quarter of the financial year 2021-22 on a consolidated basis. In the nine months of the current financial year (FY), the company has posted total revenue of Rs 1,140 crore which is a 17.28 per cent growth over the nine months of FY 2020-21.
"We are doing fairly well in this weak market scenario and have been posting profit consistently. If I compare the first nine months result of current FY with FY 2020-21, our PAT has grown by 34.78 per cent and EBITDA (Earnings Before Interest Tax Depreciation and Amortization) by 17.82 per cent. Right now, we have a very healthy order book of over Rs 5,400 crore which will translate in our books in the coming quarters in a phased manner," Puneet Chawla, Chairman and Managing Director said.
He said currently focus of the company is on digitisation. The company's retail broadband service RailWire has reached 4.6 lakh subscribers and are targeting for 5 lakh subscribers and more than Rs 280 crore turnover by the end of March 2022. "We are also focussing on our network and infrastructure expansion and upgradation. This will help us expanding our clientele as well serving the excising ones better. We have been maintaining positive result despite three waves of pandemic since 2020. We are confident about continuing this momentum in future as well," he said.
