RVNL reported its June quarter earnings on Thursday during market hours. Following the results, the stock fell 8.4% over two days. The company posted a 35% decline in consolidated net profit to Rs 224 crore for the first quarter ended June 2024, down from Rs 343 crore in the same quarter last year.
Meanwhile, its revenue from operations during the April-June 2024 period also fell 27% to Rs 4,074 crore against Rs 5572 crore posted in the same period of last year.
On a sequential basis, net profit was down 53% from Rs 478 crore posted in the preceding March quarter. Revenue from operations, meanwhile, dropped 39% QoQ from Rs 6,714 crore in the March 2024 quarter.
EBITDA during the reporting first quarter declined 48% YoY to Rs 189 crore, compared with Rs 349 crore in the last year quarter. Meanwhile, margins too fell 180 bps YoY to 4.5%.Also Read: Rs 53,000 crore loss! Adani stocks fall up to 7% as investors play safe after Hindenburg resurfacesAt noon, RVNL shares were trading 9.3% higher at Rs 566.5 on BSE. The stock has delivered multibaggers returns of over 200% year-to-date. The stock has also surged 350% in the past one year.In technical terms, the relative strength index (RSI) of the stock is currently at 44.3. An RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Additionally, the MACD is at 29.4, which is above its centre line, but below the signal line.
Moreover, the stock was trading higher than the 5-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs), while lower than the 10-day and 20-day SMAs.
RVNL deals with the twin objectives of the implementation of projects relating to the creation and augmentation of the capacity of rail infrastructure on a fast-track basis and the raising of extra-budgetary resources for SPV projects.
The company undertakes and executes the project development, financing and implementation of projects related to rail infrastructure. Further, it also mobilises financial and human resources for project implementation.
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