RITES Ltd Reports Slight Dip in Q4 Profits: Dividend Declared

State-owned RITES Ltd reported a slight fall of 1.59% in its consolidated net profit for the March quarter, amounting to Rs 136.67 crore. The company's income also saw a decline, while expenses dropped from the previous year. The board declared a Rs 5 dividend for the financial year 2023-24.

State-owned RITES Ltd on Tuesday reported a marginal fall of 1.59 per cent 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.