RITES Q4 Result: Net Profit Falls Marginally To Rs 137 Crore
RITES reports marginal fall in net profit to Rs 136.67 crore for March quarter due to decrease in revenues.
![<div class="paragraphs"><p>An EPC project carried out by RITES Ltd. (Source: Company website)</p></div>](https://media.assettype.com/bloombergquint%2F2022-08%2F5154b3e4-a033-46bd-870e-80ba91514651%2FAn_EPC_project_carried_out_by_RITES_Ltd___Source_Company_website_.png?rect=11%2C0%2C745%2C419&auto=format%2Ccompress&w=200)
State-owned RITES Ltd on Tuesday reported a marginal fall of 1.59% in its consolidated net profit to Rs 136.67 crore for the March quarter on account of fall in revenues. It had posted a profit of Rs 138.89 crore for the year-ago period, the company said in an exchange filing.
The company's total income fell to Rs 667.68 crore in the January-March period from Rs 705.63 crore in the same period a year ago.
Its expenses were at Rs 483.32 crore, down from Rs 514.17 crore in January-March FY23.
The board of the company has declared a dividend of Rs 5 for the financial year 2023-24.
RITES, under the Ministry of Railways, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.