RITES report 10 pc rise in Q3 net profit at Rs 150 crore

Government-owned RITES Ltd on Thursday reported a 10 per cent rise in consolidated net profit to Rs 150 crore for the quarter ended December as against Rs 136 crore reported in Q3 FY19.

Total revenue jumped by 14 per cent to Rs 663 crore. The profit before tax for Q3 FY20 stood at Rs 200 crore, up by 4 per cent year-on-year.

The company declared a second dividend of Rs 4 per equity share. This brings the total dividend for the FY20 so far to Rs 10 per share, which is 100 per cent of paid-up capital, with a record date of February 18.

Chairman and Managing Director Rajeev Mehrotra said the National Infrastructure Pipeline (NIP) and focus on infrastructure by the countries where we actively pursue our business will continue to drive the growth of the order book in short as well as medium term.

RITES is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India having diversified services and geographical reach.

Over the past 45 years, it has undertaken projects in more than 55 countries across Asia, Africa, Latin America, South America, and Middle East regions.

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