The shares of Railtel Corporation of India traded 3 percent higher at Rs 130.80 levels till the afternoon after the company announced multiple work orders that it has received recently.
The company received the work order from South Eastern Coalfields Limited for providing MPLS VPN services at 529 Locations under the SECL Command Area for the period of 5 Years.
Last month, Railtel Corporation bagged the work order from Webel Technology Limited for acting as System Integrator for Capacity Enhancement of the West Bengal State Data Centre (WB-SDC) worth Rs 98.56 Crores.
Railtel Corporation of India is a “Mini Ratna” Public Sector Enterprise. It is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network on exclusive Right of Way (ROW) along the Railway track.
The company has also initiated a Wi-Fi monetization project covering more than 6,100 railway stations across India where a public Wi-Fi network has already been made available by the company.
For this purpose, it has signed a five-year agreement with a consortium of three partners, namely 3i Infotech Ltd, Forensics Intelligence Surveillance and Security Technologies Private Ltd, and Yellow Inc.
In Q2FY23, the company reported a 20 percent increase in its revenue from operations to Rs 428.71 Crore from Rs 358.49 Crore in the same quarter the year before. Their net profit stood at Rs 55.24 Crore which declined from Rs 67.5 Crore in Q2FY22.
Railtel Corporation of India has a market capitalization of Rs 4,209 Crore and a dividend yield of 1.83%. The president of India holds a 72.84 percent stake in the company.
Written by Anoushka Roy
