RITES reports 14 pc jump in Q1 net profit at Rs 93 crore

ANI
13 Aug 2019, 18:07 GMT+10

Gurugram (Haryana) [India], Aug 13 (ANI): Government-owned transport infrastructure consultancy and engineering consultancy company RITES Ltd said on Tuesday its standalone profit after tax moved up by 14.5 per cent year-on-year to Rs 93 crore during the April to June quarter of current fiscal year.

The total revenue was up by 50 per cent to Rs 554 crore in the same period while operating revenue jumped 67 per cent to Rs 519 crore. Earnings per share stood at Rs 4.63 as compared to last year's Rs 4.05, up by 14.3 per cent.

"All our four segments have shown continuous growth in revenue and profitability. As a result, we have been able to maintain healthy sustainable margins," said Chairman and Managing Director Rajeev Mehrotra.

Consultancy business continued to provide the highest revenue to the company and achieved a revenue of Rs 233 crore, clocking a growth of 11 per cent over Q1FY19. Leasing business showed a growth of 24 per cent with revenue of Rs 29 crore.

Exports revenue stood at Rs 129 crore against Q1 FY19 exports of Rs 1 crore. The revenue from turnkey construction projects also increased by 68.6 per cent over Q1 FY19 to Rs 128 crore.

During Q1 FY20, gross order inflow was Rs 473 crore, taking the order book as on June 30 to Rs 6,052 crore.

With experience spanning over 45 years, RITES Ltd has undertaken projects in over 55 countries including Asia, Africa, Latin America, South America and Middle East regions. It is the only export arm of Indian Railways for providing rolling stock overseas other than Thailand, Malaysia and Indonesia. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Calgary Monitor.

More Information

null in null

North America

Section

FedEx, UPS step up as Canada Post loses market share in strikes

OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...

Zelensky confirms resumption of US military aid

The Pentagon abruptly suspended the shipments in early July, citing a need to audit remaining stockpiles Ukrainian President Vladimir...

Gaza becoming "graveyard of children, starving people," says UNRWA chief, as nearly 800 killed at aid centres

Tel Aviv [Israel], July 12 (ANI): Gaza has become the graveyard of children and starving people, UNRWA chief Philippe Lazzarini said,...

US slaps visa sanctions on Cuban president

Secretary of State Marco Rubio linked the new restrictions to the 2021 unrest in Havana ...

Daily World Briefing, July 12

Chinese FM calls for joint efforts in finding right way for China, U.S. to get along China and the United States should work together...

Without goalkeeper and captain, Orlando City face woeful Montreal

(Photo credit: Jim Dedmon-Imagn Images) Orlando City will be without their starting goalkeeper and their captain when they host a...

Canada

Section