RITES Q3 consolidated profit up 10% at Rs 150 cr

RITES on Thursday reported a 10.47 per cent increase in its consolidated profit to Rs 150.04 crore for the quarter ended on December 31, 2019, on the back of higher income.

The Railway consultancy firm had clocked a consolidated profit of Rs 135.81 crore for the corresponding quarter of the previous fiscal, RITES said in a regulatory filing to the BSE.

Its total revenue increased to Rs 663.46 crore during the quarter under review as against Rs 582.54 crore in the corresponding period of the previous fiscal.

The company's total expenditure also surged to Rs 466.31 crore as against Rs 390.14 in the year-ago period.

Commenting on the results, Rajeev Mehrotra, Chairman and Managing Director, RITES Limited said, "We have continued to maintain growth and profitability at expected levels during the third quarter and as a result of which, Board has considered second interim dividend."
"National Infrastructure Pipeline in India and focus on infrastructure by the countries, where we actively pursue our business, will continue to drive growth of our order book in short as well as medium term."