RITES Ltd has reported 2.3 per cent rise in consolidated profit after tax (PAT) at Rs 147.18 crore for the quarter ended December 31, 2022. The company had logged a PAT of Rs 143.87 crore in the year-ago period, RITES said in a filing to the BSE.
Revenue from operations in October-December 2022-23 declined to Rs 677.34 crore from Rs 775.20 crore in the year-ago period.
“The USP of our diversified business model was again evident in this quarter with a sequential growth as well as 9 per cent growth in PAT in the 9-month period.
“At the same time, the margins were maintained by capitalising on our core strength: Consultancy, which grew by 21 per cent in the 9-month period. With a declaration of the 3rd interim dividend of Rs 6 per share, we continue to honour our commitment to our shareholders,” RITES’ Chairman and Managing Director Rahul Mithal said. During the third quarter of current fiscal year, the company secured more than 65 orders, including extension of works, worth Rs 1,200 crore, thereby maintaining a healthy order book of Rs 5,513 crore as on December 31, 2022.
RITES Ltd is a miniratna public sector enterprise and a leading player in the transport consultancy and engineering sector in India. The company has diversified services and geographical reach. PTI SID ANU ANU
