The government of India incorporated Rail Vikas Nigam Ltd in 2003, and it is in the business of carrying out different kinds of rail infrastructure projects given by the MoR, such as doubling, gauge conversion, new lines, railway electrification, significant bridges, workshops, and production units, as well as sharing freight revenue with railways in accordance with the concession agreement made with the Ministry of Railway.
Financial Results:
Rail Vikas Nigam reported a 31 percent rise in net profit to ₹ 382 crores in Q3FY23 from ₹ 293 crores posted in Q3FY22.
PBT grew 14.03% on an YoY basis to ₹ 448 crores in the Q3FY23.
Total expenses increased marginally to ₹ 4,889 crores while other expenses increased 16 percent to ₹ 25 crores in Q3FY23 over Q3FY22.
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