RITES gains after board OKs 3rd interim dividend for FY22

RITES rose 3.73% to Rs 255.65 after the company said that its board has approved third interim dividend of Rs 7.50 per share for the financial year 2021-22.

At yesterday's closing price of Rs 246.45, the dividend translates to a dividend yield of 3.04%.

RITES is a Miniratna (Category - I) schedule 'A' public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 December 2021, the Government of India held 72.2% stake in the company.

The company's consolidated net profit rose 35.52% to Rs 138.66 crore on a 70.63% increase in sales to Rs 766.64 crore in Q3 FY22 over Q3 FY21.

 

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