RITES records highest-ever revenue at Rs 16.6 bn, net increases 7.8%

At Rs 3.63 billion, railway subsidiary RITES Ltd has posted a 7.8 per cent increase in net profit in 2017-18 over the previous financial year.

RITES has recorded its highest-ever revenue of Rs 16.67 billion on consolidated basis, while its operational revenue recorded a growth of 11.2 per cent over FY17. 

The increase in profit was achieved even after absorbing the full-year pay revision impact and as against a higher base in FY17 due to the sale of non-current investment, RITES said in its statement. 

The company’s FY18 PAT (profit after tax) has increased by 29 per cent if “the impact of sale