RVNL shares fall over 4% after Q4 net profit decline

Rail Vikas Nigam (RVNL) reported a consolidated net profit of Rs 359.3 crore, down 5%, in Q4 FY21 compared to Rs 378 crore in the year-ago period. The company’s revenue from operations during the January-March quarter fell 11% to Rs 5,719.8 crore YoY. The board recommended a final dividend of Rs 0.36 per share for FY22-23, payable within 30 days from the date of approval. RVNL’s shares fell 4.6% to Rs 116 in Tuesday’s intraday trade on BSE. The average target price of the stock is Rs 130, indicating an upside of 11% from current market prices.