Sunday, May 22, 2022

RailTel posts net profit of Rs 66 crore in Q3 of FY22

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New Delhi: Board of Directors of RailTel, a PSU under the Ministry of Railways, in its 127th board meeting held on February 14, has declared its financial results for the third quarter (Q3) and nine months of the current financial year (FY 2021-22), said RailTel in a statement on Tuesday. RailTel has posted a consolidated income of Rs 474.15 crore in the Q3 of FY 2021-22 thereby registering a y-o-y growth of 13.49 percent over consolidated income of Rs 417.79 crore in the third quarter of FY 2020-21.

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, RailTel has posted revenue from operations of Rs 1,083 crore which is 14.24 percent higher over the nine months of FY 2020-21.

Talking about the result, RailTel’s Chairman & Managing Director (CMD) Puneet Chawla said, “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 the current financial year with FY 2020-21, our net profit has grown by 34.78 percent and EBITDA (earnings before interest tax depreciation and amortization) by 17.82 percent. Right now we have a very healthy order book of over Rs 6400 crore which will translate into revenue in the coming quarters in a phased manner. Currently, the focus is on digitization which is boosting our B2B as well as B2C business.”

“Our retail broadband service ‘RailWire’ have reached 4.6 lakh subscribers and we are targeting for 5 lakh subscribers and more than Rs 280 crore turnover by end of March 2022. We are also focussing on our network and infrastructure expansion and up-gradation. This will help us in expanding our clientele as well serving the existing ones better. We have been maintaining positive results even despite three waves of pandemic since 2020. We are confident about continuing this momentum in future as well,” he added.

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