State-owned RITES Limited reported a slight decrease of 1.59 percent in its consolidated net profit for the March quarter, amounting to Rs 136.67 crore. This decline is attributed to a reduction in revenues compared to the same period last year. The company’s profit stood at Rs 138.89 crore in the corresponding period of the previous year. Total income for the January-March period also decreased to Rs 667.68 crore from Rs 705.63 crore year-on-year. Expenses decreased to Rs 483.32 crore from Rs 514.17 crore in the January-March period of the previous fiscal year.
The company’s board has declared a dividend of Rs 5 for the financial year 2023-24. RITES, operating under the Ministry of Railways, offers a wide range of services in engineering and consultancy, covering all aspects of transport infrastructure and related technologies, from conception to completion.
