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The said project is under revamped reforms based and results-linked, distribution sector scheme (Loss Reduction Works).
The distribution project is worth Rs 444.26 crore. It will be executed in 24 months.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
The company reported 15.19% rise in consolidated net profit to Rs 342.90 crore in Q1 FY24 as against Rs 297.67 crore posted in Q1 FY23. Revenue from operations jumped 20.1% year on year to Rs 5,571.57 crore in the quarter ended 30 June 2023.
The counter fell 0.20% to Rs 172 on the BSE.
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