Shares of RailTel Corporation of India rose 3% after securing two orders.

Shares of the company were up 1.7% at Rs 115.5 on the BSE at 11:07 am on Friday. The stock is down 10% in the past month and 17% in the past three months.

The company has received an IT network infrastructure work order worth Rs 27.07 crore from Bengaluru Metro Corporation and a comprehensive annual maintenance contract worth Rs 6.22 crore for five years, extendable to ten years. The completion period of the project is three months, and the payment will be made in three instalments.

“10% is payable upon submission of final design documents and as-built drawings, 70% upon delivery of goods and 20% upon issuance of a certificate of completion,” the company said in a regulatory filing.

Railtel is doing well this year, with three orders in 2023, except this one.

The company’s net sales stood at Rs 454.32 crore for December 2022, an increase of 8.77% from December 2021. However, the net profit for the December 2022 quarter was down 51.6% from December 2021. The company has two revenue-generating streams – telecommunications and project work services. Most of the revenue came from telecom services, which increased year-over-year, while other revenue sources declined.