Railtel shares jump higher despite railway enterprise reports weak Q2 numbers

Railtel Share Price: Despite the company reporting weak operational results on Thursday, the shares of Railtel were rising higher in early morning deals on BSE on Friday (October 27, 2023). The shares of the public sector enterprise were up by 3.19 per cent, or Rs 6.95, at Rs 224.70 each, at 10:13 am on Friday.

The share that closed at Rs 217.75 on Thursday evening started its morning session on Friday at Rs 224.90 before rising to the day's high of Rs 229.20.

Railtel Q2 results

Railtel, which is a popular stock among traders, reported a 23.6 per cent jump to Rs 68 crore in its consolidated profit after tax in the second quarter compared to Rs 55 crore in the corresponding quarter last year.

The company's revenue jumped 39.6 per cent to Rs 599 crore in Q2 in comparison to Rs 429 crore Year-on-Year.

The EBIDTA in the quarter under review rose 15 per cent to Rs 115 crore from Rs 100 crore in the same quarter last year.

The margin, however, was down to 19.1 per cent in the June-September period as against 23.3 per cent in the same quarter a year ago.

The company also announced an interim dividend of Rs 1 per share.