Titagarh Rail Systems logs Rs 61.77 crore net profit driven by higher income

Titagarh Rail Systems Ltd on Saturday reported a net profit of Rs 61.77 crore for the April-June quarter of 2023-24 driven by higher income.

The company posted a consolidated net loss of Rs 6.46 lakh in the first quarter of the previous fiscal, the company said in a filing to BSE.

The consolidated total income in the April-June period more than doubled to Rs 914.64 crore, over Rs 440.78 crore in the year-ago period, it said.

Headquartered in Kolkata, the Titagarh group is a leading manufacturer of freight and passenger rolling stock.

In March, Titagarh Rail Systems Ltd in consortium with Ramkrishna Forgings emerged as the lowest bidder for the supply of 15.40 lakh forged wheels to Indian Railways.

The JV namely Ramkrishna Titagarh Wheels Ltd (RTWL) will be engaged in manufacturing and supply of forged wheels under the Atma Nirbhar Bharat initiative, the filing said.