RailTel reports 23% jump in Q1 profit, bullish on growth for rest of year

As a “Mini Ratna (Category-I),” PSU RailTel Corporation is one of the largest providers of neutral telecom infrastructure in the nation. The company has issued its Q1FY23 results and reported a consolidated income of Rs. 385 crore in Q1FY23 over the consolidated income of Rs. 315 Crore in Q1FY 21-22, this is a 22% increase YoY. With a YoY increase of 21%, its standalone net income increased to 378 Cr in Q1FY23 from 311 Cr in Q1FY22. In comparison to Q1FY22, the company’s revenue from operations increased by 21% YoY, from 304 Cr to 370 Cr in Q1FY23.

Whereas its consolidated revenue from operations reached 376 Cr compared to 306 Cr in the same quarter of the last year a YoY rise of 22%. On a consolidated basis, the company’s total expenses reached 350 Cr compared to 287 Cr in the same quarter of the last year whereas on a standalone basis the total expenses reached 344 Cr compared to 284 Cr in Q1FY22.

With this, RailTel reported a consolidated Profit before tax (PBT) of Rs. 35 crore, up 34% year over year from Rs. 26 crore in the same period last year. Furthermore, the company recorded a PBT of 34 Cr, up from 27 Cr in Q1FY22 and up by 25% year over year. On a consolidated basis, the firm recorded a profit after tax (PAT) of Rs. 26 crore, up from Rs. 21 crore in Q1FY22 and a YoY increase of 23%. On a standalone basis, the company reported a PAT of Rs. 25 crore, up from Rs. 21 crore in Q1FY22 and a YoY increase of 19%.

On a standalone basis, the company’s segment-wise revenue reached 370.46 Cr compared to 304.04 Cr in Q1FY22. Telecom services revenue reached 274 Cr, followed by project work services revenue of 96 Cr. On a consolidated basis, the segment-wise revenue of the company totalled 377 Cr in Q1FY23 compared to 307 Cr in Q1FY22. Under the consolidated segment-wise revenue, telecom services revenue reached 273 Cr compared to 230 Cr in Q1FY22 and project work services revenue reached 103 Cr compared to 75 Cr in Q1FY22.

Speaking about the result Ms. Aruna Singh Chairman and managing Director RailTel said “it is very heartening to see the first quarter results, we have shown a very positive growth both in revenue and the bottom line. Considering the projects on hand such as video surveillance system, tunnel communication works and Defence sector projects I am very hopeful that we will close the year with even better results. I would like to thank the investors for showing faith in our company. I would also like to wish all our stakeholders a very happy 75th Independence Day”

The shares of Railtel Corp Of India Ltd closed today at 98.15 apiece, down by 0.71% from the previous close. On a YTD basis, the stock has fallen 16.15% so far in 2022.

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