Adventz group company Texmaco Rail & Engineering Ltd is hoping for revival of its wagon business on the back of upcoming government contracts. A net profit of Rs 12.8 crore in the quarter ended September as against Rs 8.3 crore loss in the corresponding quarter a year ago, posted by the firm.
The company officials said, “Against the tender of Indian Railways for 22,258 wagons, the company is fairly placed to secure its share of business on finalisation of orders by Railways.”
They said that the private sector’s demand for wagons will continue to remain good.
The officials also said the 1st half of the year saw an unprecedented cost push due to rise in the prices of steel, MS scrap, graphite electrode and furnace oil that impacted the company.
Texmaco Rail & Engineering has received approval from shareholders/creditors to the scheme of amalgamation of subsidiaries Bright Power Projects (India) Pvt Ltd and Texmaco Hi Tech Pvt Ltd, into and with the company, with effect from April 1, 2017.
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