Titagarh Rail Systems Limited reports YoY standalone revenue growth of 25%, profit zooms 91% in Q3FY24
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Titagarh Rail Systems Limited (TRSL), the prominent Indian rolling stock manufacturer, announced its unaudited results for the third quarter ending on 31st December 2023 on 2nd February, 2024.
The Company’s Standalone Net Revenues for Q3FY24 stood at Rs. 954.68 crores with a growth of 24.57%, while EBIDTA margin stood at 11.59% with Rs. 110.67 crores, an increase of 52.30 % Y-o-Y. Net Profit stood at Rs. 75.03 crores, an increase of 91% over Q3FY23.
At the end of December 2023, TRSL reached a significant milestone in India's rolling stock industry by achieving highest-ever monthly production of wagons by any player. The Company’s state-of-the-art manufacturing plant in Titagarh, West Bengal and Bharatpur, Rajasthan successfully rolled out 1021 wagons, marking a historic achievement for the Company cementing TRSL’s position as a leader in the field of railway wagon manufacturing.
Commenting on the results, Mr. Umesh Chowdhary, Vice Chairman and Managing Director, Titagarh Rail Systems Ltd. said, “The Company’s robust performance in Q3 FY24 is a reflection of our sustained operational momentum. On a year-over-year basis, the Freight Rolling Stocks and Passenger Rolling Stocks, both have recorded substantial growth. The Government's unwavering emphasis on the building of world-class rail infrastructure in India makes us enthusiastic about higher and sustained growth in the upcoming quarters.”
Moreover, the Company's order book is valued at Rs. 27,466 crores and exhibits good diversification among both the business segments – Freight Rolling Stock and Passenger Rolling Stock.
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