Titagarh Rail Systems’ consolidated net profit was down 54% in the first quarter of the current financial year as wagon dispatches fell on account of lower supply of wheelsets from Rail Wheel Factory.
The railway parts manufacturer posted a bottom line of Rs 30.86 crore in the June quarter as compared to Rs 67.01 crore in the year-ago period.
The firm’s wagon dispatches were at 1,628 in quarter ended June, according to a press release from the company. This compares to 2,455 wagons in the previous quarter and 2,073 wagons in the first quarter of the last fiscal. The firm reported that this production hiccup has now been normalised.
Revenue decreased by 24.8% year-on-year for the three months ended June, reaching Rs 679.30 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 26% year-on-year to Rs 75.10 crore. The Ebitda margin contracted to 11.1%.
