Titagarh Rail surges over 7% on strong Q4 results and dividend announcement

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Titagarh Rail Systems stock rose over 7 per cent on Thursday’s trade after Q4 results.

Titagarh Rail Systems stock rose over 7 per cent on Thursday’s trade after Q4 results.

The company reported its consolidated net profit for the quarter ended March 2024 at ₹78.94 crore as against ₹48.23 crore in the corresponding quarter last year. Its consolidated revenue from operations stood at ₹1,052 crore for the quarter ended March 2024 as against ₹974.2 crore in the corresponding quarter last year.

Titagarh board had recommended dividend of 40 per cent (i.e. ₹0.80) per equity share of ₹2 each for the financial year 2023-2024.

The board has elevated Prithish Chowdhary, Director (Marketing & Business Development) & Deputy CEO (Passenger Rail Systems) to the position of Deputy Managing Director of the Company w.e.f. May 15, 2024. 

In addition, the board has also approved re-appointment of Anil Kumar Agarwal designated as Deputy Managing Director & CEO (Freight Rail Systems) of the company for a period of three years w.e.f. May 29, 2024.

The stock traded at ₹1,194.05 on the NSE, higher by 7.33 per cent as of 11.47 am.

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