RITES emerges as L-1 bidder for Delhi Metro project

RITES said that the company's consortium has emerged as the lowest bidder (L-1) for a tender floated by Delhi Metro Rail Corporation (DMRC).

The project comprises of retrofit work in RS-1 Trains of DMRC. The project has to be executed within a period of 3 years.

RITES share in the tender is approximately Rs 36.36 crore.

RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company.

The companys consolidated net profit declined 24.37% to Rs 90.44 crore in Q1 FY25 as against Rs 119.58 crore recorded in Q1 FY24. Revenue from operations declined 10.76% to Rs 485.76 crore in the quarter ended 30 June 2024 from Rs 544.35 crore posted in Q1 FY24.

 

The scrip rose 0.64% to currently trade at Rs 296.55 on the BSE.

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