 "RITES Q2 PAT drops 20% to Rs 140 crore, income declines to Rs 684 crore")
RITES Ltd, a public sector transport consultancy and engineering firm, has reported 19.6 per cent decline in consolidated profit after tax (PAT) at Rs 140.20 crore for September quarter 2022-23.
The company had logged a PAT of Rs 174.49 crore in the year-ago period, RITES said in a BSE filing on Friday.
Income dropped to Rs 684.30 crore from Rs 788.85 crore in the year-ago period.
"The trend of sequential growth as also seen vis-a-vis H1 (April-September) of the previous year continues despite a dip in the export stream of revenue.
"The results reiterate our core strength and the USP (unique selling point) of having a diversified business portfolio," Chairman and Managing Director Rahul Mithal said.
RITES is a miniratna public sector enterprise and a leading player in the transport consultancy and engineering sector in the country.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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