Texmaco Rail posts net profit of Rs 19 cr in Dec quarter

Texmaco Rail and Engineering Ltd on Monday announced a sharp jump in net profit to Rs 18.85 crore for the quarter ended December, as against Rs 4.08 crore in the corresponding period a year ago. Revenue was up at Rs 409 crore compared with Rs 227 crore in the third quarter of 2017-18.

The company attributed the robust earnings to emerging business opportunities in the field of Rail EPC and an upturn in wagon demand from the private sector. The consolidated order book position of Texmaco Rail and Engineering with its subsidiaries stood at Rs 6,200 crore. The Railways continues to be a focus area of the government with a capital outlay of Rs 1.59 trillion in the 2019-20 Union Budget.