Titagarh Rail Systems logs Rs 61.77 cr net profit driven by higher income
Illustration: Ajay Mohanty
Titagarh Rail Systems Ltd on Saturday reported a net profit of Rs 61.77 crore for the April-June quarter of 2023-24 driven by higher income.
The company recorded a consolidated net loss of Rs 6.46 lakh in the first quarter of the previous financial year, the company said in a filing to BSE.
Total consolidated income in the April-June period more than doubled to Rs.914.64 crore, more than Rs.440.78 crore in the previous year.
Headquartered in Kolkata, the Titagarh Group is a leading manufacturer of freight and passenger vans.
In March, Titagarh Rail Systems Ltd appeared in a consortium with Ramkrishna Forgings as the lowest bidder for the supply of 15.40 lakh forged wheels to Indian Railways.
The joint venture, Ramkrishna Titagarh Wheels Ltd (RTWL), will be involved in the manufacture and supply of forged wheels under the Atma Nirbhar Bharat initiative, the filing says.
(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)
First published: July 22, 2023 | 7:33 PM ist