Texmaco Profit Drops 50% to Rs 29 Cr

Kolkata, Aug 13 (PTI) Texmaco Rail & Engineering Ltd on Wednesday reported a 50.5 per cent on-year drop in consolidated net profit to Rs 29 crore for the June quarter, impacted by a short supply of wagon wheelsets from the Railways.

Revenue from operations declined 16.3 per cent to Rs 911 crore from Rs 1,088 crore in the year-earlier period, putting margins under pressure.

EBITDA fell 36 per cent to Rs 79 crore from Rs 123 crore, while EBITDA margin contracted 267 basis points to 8.7 per cent, it said.


Earnings per share dropped to Rs 0.75 from Rs 1.50 in the same quarter last year.

The PAT margin fell to 3.2 per cent from 5.4 per cent in the corresponding period of the previous year.

"The decline in revenues for the quarter was due to a short supply of wagon wheelsets from Indian Railways, an industry-wide issue. Supplies have since improved, and corresponding revenues have normalised," Executive Director and Vice-Chairman Indrajit Mookerjee said.

There was also a temporary fall in revenue at Texmaco West Rail due to a hold on inspections by RDSO, the company added.