Comments
Delayed release in bulk order from the Railways saw Titagarh Wagons, the country’s largest private sector wagon-maker, slip into red for the quarter ended March 31, 2018. The company reported a net loss of ₹13 crore in Q4 FY18.
For the full fiscal, the company reported a net loss of ₹79 lakh.
According to a press statement issued by the company, a delay in release of bulk orders by Indian Railways led to the company failing to utilise its capacity for wagon manufacturing for major part of the year.
“However, the bulk order for 1,147 wagons worth ₹270.18 crore has been received from the Indian Railways in December; execution of which has started from the first quarter (April-June ) of FY19,” the company further said.
This apart, orders from private customers have also been booked during the quarter ended March 31, 2018.
The consolidated order book (as on March 31) stood at ₹2,510 crore with 46 per cent of this (or ₹1,165 crore) coming from Indian operations.
The board has recommended a dividend of 30 paise per equity share of face value of ₹2 each.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.