Wagon maker Texmaco Rail & Engineering Ltd posted substantially lower profits in the quarter to December 31, 2011 owing to delayed lease of orders by the Railways. It reported Rs 10.74 crore net profit in the third quarter against Rs 22.32 crore in the comparable quarter in the previous fiscal.
The company in a note to the accounts said: “The company has since received a substantial wagon order in mid-January 2012 for 3,915 wagons from the Railways for the financial year 2011-12.”