Hot Pursuit     30-Aug-23
Titagarh Rail gains on bagging order from GMRC worth Rs 350 crore
Titagarh Rail Systems added 2.07% to Rs 746 after the company received letter of acceptance (LoA) from Gujarat Metro Rail Corporation (GMRC) for Ahmedabad metro rail phase-II project.
The order includes design, manufacture, supply, testing, commissioning and training of 30 nos. of standard gauge cars for Ahmedabad Metro Rail Phase-II Project. The value of the order is approximately Rs 350 crore.

The prototype has to be delivered within 70 weeks from LOA and delivery completion is 94 weeks from LOA.

Titagarh Rail Systems (formerly known as Titagarh Wagons) is the largest private sector manufacturer of wagons and an established player in passenger coaches.

The company reported a standalone net profit of Rs 67.57 crore in Q1 FY24, steeply higher than Rs 23.02 crore posted in Q1 FY23. Revenue from operations zoomed 110% to Rs 910.76 crore in the Q1 FY24 from Rs 433.71 crore recorded in the corresponding quarter previous year.

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