Orient Electric Q3 FY24 net profit drops 25%

06 Feb 2024 CW Team

In the quarter ending December 30, 2023, Orient Electric has recorded a 25.28% decline in its net profit. The company reported a profit after tax of Rs 243.3 million in Q3 FY24, down from Rs 325.6 million in the same quarter of the previous fiscal, as per a filing with the BSE.

Despite this dip in profit, the company's net total income for Q3 FY24 was Rs 7562.1 million, indicating a modest growth of 1.14% compared to Rs 7476.5 million in the corresponding quarter of the previous year.

The board of directors has given its nod for an interim dividend of Rs 0.75 (75%) per equity share with a face value of Rs 1 each for the financial year 2023-24. Additionally, approval was granted for the issuance of 7,85,207 stock options to eligible employees under the Orient Electric Employee Stock Option Scheme-2019.

Real Estate

07 Aug 2026

BXB Estates Sets AED 110 Million Jumeirah Golf Estates Record

BXB Estates has completed an AED 110 million residential transaction at Jumeirah Golf Estates, setting a new sales record for the prestigious Dubai residential community.Negotiated by Alfie Tabrez, Managing Partner of BXB Estates, the deal surpassed the previous record of AED 58 million for a completed ready villa in the development.The six-bedroom residence offers 21,714 sq ft of built-up space on a 15,873-sq-ft plot. It features nine bathrooms, four living lounges, a home office, bar lounge, private cinema and rooftop terrace.The property also includes a dedicated wellness area comprising a ..

SECR Floats Rs 6,019 Mn EPC Tender For Paradol Nagpur Link

South East Central Railway (SECR) has invited bids for an Engineering, Procurement and Construction (EPC) contract to build a new broad gauge single line between Paradol Takeoff Point and Nagpur Road Station in Chhattisgarh. The contract carries an estimated cost of Rs 6,019.0 mn and requires an earnest money deposit of Rs 120.4 mn. The work is framed as an EPC assignment intended to strengthen regional rail infrastructure. The tender, issued under number CAO-C-BSP-26-27-15, specifies a completion period of 730 days and a bid validity of 180 days. Two pre-bid meetings are scheduled for 24 Augu..

Indian Railways Reports Nine Per Cent Rise In July Freight Loading

Indian Railways handled 141.3 million tonnes (141.3 mn t) of freight in July, marking a rise of nine per cent year on year. Freight loading maintained a positive trajectory across the network compared with the same month last year. Passenger traffic also increased in July, contributing to higher overall network utilisation. The July outcome continued a pattern of steady monthly gains, reflecting gradual improvement in industrial and logistics activity. The growth in freight volumes reflected stronger demand across multiple sectors and improvements in logistics and train turnarounds. Enhanced r..