RITES gains after Q3 PAT rises 11% YoY

RITES rose 1.32% to Rs 314.05 after declaring decent Q3 numbers during market hours today, 6 February 2020.

RITES reported a 10.48% rise in consolidated net profit to Rs 150.04 crore in Q3 December 2019 as against Rs 135.81 crore reported in Q3 December 2018. Total revenue jumped 13.89% to Rs 663.46 crore during the period under review.

Profit before tax (PBT) for Q3 December 2019 stood at Rs 200.16 crore, up by 4.02% year-on-year.

The company declared a dividend of Rs 4 per equity share with a record date of 18 February 2020.

RITES is a public sector enterprise (PSE) and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The government's stake in RITES stood at 77.39% as on 30 September 2019.

 

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