RITES Q1 profit up 11.2 pc at Rs 102 cr

Transport infrastructure consultancy and engineering firm RITES Ltd on Tuesday reported a 11.2 per cent rise in consolidated profit at Rs 102 crore for the quarter ended June 30. The company had posted a consolidated profit of Rs 91.71 crore in the corresponding quarter of previous fiscal, RITES said in a filing to the BSE.

Total consolidated revenue increased to Rs 572.63 crore during April-June quarter from Rs 390.16 crore in the year-ago period, the filing said. "...RITES has continued its growth journey in the first quarter of 2019-20. All four segments have shown continuous growth in revenue, profitability and as a result, we have been able to maintain healthy sustainable margins," Chairman and Managing Director Rajeev Mehrotra said.

Shares of RITES settled at Rs 233.80 on the BSE, down 2.58 per cent from the previous close.