Rail Vikas Nigam Ltd (RVNL) on Wednesday announced that it has received a Letter of Award (LoA) for a project worth ₹106.37 crore in Madhya Pradesh.
In a filing to the stock exchanges, the public sector undertaking of the Indian Railways said that it has received the LoA from MP Paschim Kshetra Vidyut Vitaran Company Ltd on general contract conditions for supply, installation and testing of electricity lines.
The time for the execution of the order is 24 months and the total order size stands at ₹106.37 crore, the company informed the stock exchanges.
The MP Paschim Kshetra Vidyut Vitran Company Ltd is a power distribution company under the
Madhya Pradesh government. The company caters to the power distribution needs in the Indore and Ujjain regions of the state.
As per the details of the contract, RVNL stated it will be responsible for the supply, installation, testing, as well as commissioning of a new 11 KV line for bifurcation and interconnection, an additional 11 KV bay at the 33/11 KV sub-station, and augmentation of the conductors of the 33 KV and 11 KV lines.
RVNL will also carry out the installation and testing of additional distribution transformer substations with associate new 11 KV lines and other works in the Jhabua operation and maintenance (O&M) division (LOT-12) under the revamped reform-based and results-linked Distribution Sector Scheme of the Madhya Pradesh government.
The
railway PSU’s consolidated net profit dropped 6.24% on a year-on-year (YoY) basis to ₹358.57 crore in the quarter ended December 31, 2023, compared to ₹382.42 crore in the same period last year, while net sales dipped 6.4% to ₹4,689.3 crore in third quarter of FY24 versus ₹5,012.1 crore in the year-ago period.
Shares of RVNL were trading 8.4% lower at ₹222.95 apiece on BSE at 2:24 pm.
(Edited by : Ajay Vaishnav)
