Hot Pursuit     05-Oct-23
K&R Rail hits the roof after bagging contract worth $500 mn
K&R Rail Engineering was locked in 5% upper circuit at Rs 822.25 after the company announced the signing of an MOU with Nepal-based Muktinath Darshan for a project worth $500 million.

The said contract is for the execution of cable car project in Gandaki province of Nepal. The total length of the cable car project is about 84.32 kilometers.

The EPC contract has to be executed within a period of 48 months. At the exchange rate of Rs 80 per dollar, the value of the said contact is Rs 4,000 crore.

K&R Rail Engineering is one of the leading Professional Turnkey EPC Contractor executing railway siding projects all across India.

The company's net profit surged to Rs 3.37 crore in the quarter ended June 2023 as against Rs 0.92 crore during the previous quarter ended June 2022. Sales rose 159.71% to Rs 161.98 crore in Q1 FY24 from Rs 62.37 crore in Q1 FY23.

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