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Transport infrastructure consultancy and engineering firm RITES Ltd on Thursday said its profit after tax increased by 6.5 per cent to Rs 138 crore in the January-March 2023 quarter.

The company had posted a profit after tax (PAT) of Rs 130 crore in the year-ago quarter, RITES said in a statement.

Operating revenue, excluding other income, stood at Rs 687 crore in the quarter under review, 10.3 per cent down from Rs 766 crore.

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The fall can be attributed to low exports, said the statement.

RITES is a Miniratna Schedule ‘A’ Central Public Sector Undertaking under the Ministry of Railways.

The board of directors has recommended a final dividend of Rs 6 per share amounting to Rs 144 crore for FY23, which is 60 per cent of the paid-up capital.

Upon approval, the total dividend payout ratio attributed for FY23 will stand at 92.8 per cent.

Rahul Mithal, Chairman and Managing Director, RITES Limited, said, “Highest-ever consultancy revenue in FY23 underscored the fact that consultancy business is our core strength, which we will continue to leverage aggressively, tapping the immense opportunities.”