RailTel Corp Q4 PAT rises 19% to Rs 27 cr

RailTel Corporation of India’s consolidated net profit jumped 19.4% to Rs 27.21 crore on 9.5% increase in net sales to Rs 429.82 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax surged 32.7% to Rs 40.88 crore in Q4 FY21 as against Rs 30.81 crore in Q4 FY20. The Q4 earnings were announced after trading hours on Friday, 25 June 2021.

Revenues from Telecom Services segment grew 26.90% to Rs 255.41 crore in Q4 March 2021 from Rs 201.26 crore in Q4 March 2020. Revenues from Project Work Services segment declined 8.86% to Rs 174.40 crore in Q4 March 2021 as against Rs 191.37 crore in Q4 March 2020.

During the financial year, RailTel Corporation of India’s consolidated net profit rose 0.97% to Rs 142.45 crore on 22.14% rise in revenue from operations to Rs 1,377.82 crore in FY 2021 over FY 2020.

RailTel, a “Mini Ratna (Category-I)” Central Public Sector Enterprise is an information and communications technology (ICT) provider and one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. The Optical Fibre Cable (OFC) network covers important towns & cities of the country and several rural areas.

Shares of RailTel Corporation were listed on the stock exchanges on 26 February 2021. The stock was listed at Rs 104.60, a premium of 11.28% to the initial public offer (IPO) price.

The IPO of RailTel Corporation of India was subscribed 42.39 times. The issue opened for bidding on 16 February 2021 and closed on 18 February 2021. The price band for the IPO was set at Rs 93-94 per share.

Shares of RailTel Corporation of India declined 2.03% to Rs 144.60 on BSE. The stock hovered in the range of Rs 143.75 to Rs 148 so far.