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.
Meanwhile, 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%.
As per Trendlyne data, the average target price of the stock is Rs 268, which shows a downside of 48% from the current market prices. The consensus recommendation from 2 analysts for the stock is a ‘Hold’.In technical terms, the relative strength index (RSI) of the stock is currently at 47.9. An RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Additionally, the MACD is at -33.3, which is above its center line, but below signal line.Moreover, RVNL stock were trading lower than the 5-day, 10-day, 20-day, and 30-day simple moving averages (SMAs), while higher than the 50-day, 100-day, 150-day, and 200-day SMAs.At 10:51 am the stock was trading 3.7% lower at Rs 518.5 on BSE. However, on a year-to-date, the stock has rallied 184%.
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 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.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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