Q4: Net profit: RITES sees a marginal fall of 1.59 %

29 May 2024 CW Team

State-owned RITES Ltd. reported a marginal fall of 1.59% in its consolidated net profit to Rs 1.36 billion for the March quarter on account of a fall in revenues. It had posted a profit of Rs 1.38 billion for the year-ago period, the company said in an exchange filing.

The company's total income fell to Rs 6.67 billion in the January?March period from Rs 7.05 billion in the same period a year ago. Its expenses were at Rs 4.83 billion, down from Rs 5.14 billion in January?March FY23.

RITES, under the Ministry of Railways, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.

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