Rail Vikas Nigam Limited (RVNL) reported mixed performance for the Q4 of FY26, with revenue increasing marginally, while profitability has declined. The railway infrastructure major published its quarterly results after hours on Monday, May 25.
RVNL's revenue from operations stood at Rs. 6,695.9 crore for the quarter ended on March 31, 2026, a 4.2% year-on-year increase from the previous year's Rs. 6,427 crore. The total income for the March quarter was Rs. 6,780.9 crore, whereas for Q4 FY25 it was at Rs. 6,614.5 crore.
The company's profits were, however, affected. According to its stock exchange notification, net profit after tax fell 59% year-on-year to Rs. 187 crore from Rs. 455.4 crore in the corresponding quarter last year.
During the quarter, RVNL's operating performance declined due to a higher cost base compared to revenue. The total expense rose in the year-end quarter from Rs. 6,120.1 crore to Rs. 6,534.6 crore.
The company’s EBITDA fell 38.4% YoY to around Rs. 268.5 crore from Rs. 436.1 crore in Q4 FY25. EBITDA margin fell notably to 4%, from 6.8% in the same period of last year. The shrinking margin suggests that the company's operating costs are rising and profitability has declined despite the revenue increase.
On a sequential basis, revenue improved significantly from Rs. 4,684.5 crore reported in Q3 FY26, while net profit declined from Rs. 324.1 crore in the December quarter.
For the entire FY26, the revenue from operations recorded by RVNL was Rs. 20,412.1 crore from Rs. 19,923.3 crore during FY25. The total income during the year stood at Rs. 21,187.4 crore compared to Rs. 20,923.4 crore in the previous financial year.
Although revenues rose, profitability declined each year. Net profit after tax fell around 31.5% from FY25's level of Rs. 1,278 crore to Rs. 875 crore in FY26. Profit before tax for the year came in at Rs. 1,181.2 crore versus Rs. 1,646.4 crore in the previous year.
Finance costs declined to Rs. 419 crore in FY26 from Rs. 544.9 crore in FY25, but total expenses increased to Rs. 20,100 crore from Rs. 19,368.2 crore a year ago.
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Additionally, RVNL revealed a final dividend of Rs. 0.71 per equity share for FY26, subject to shareholders' approval.
The final dividend of Rs. 0.71 per equity share of the face value of Rs. 10 each of the company will be made within 30 days of the shareholders' approval at the upcoming Annual General Meeting (AGM), the company stated in its earnings filing.
In February, the company had announced an interim dividend of Rs. 1 per share, which increases the total dividend for the FY26 to Rs. 1.70 per share.