Latest News | RITES Profit Rises 6.5 Pc to Rs 138 Crore in Q4

New Delhi, May 18 (PTI) 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.

Also Read | 20% TCS FAQs: Finance Ministry Answers Questions Related to International Credit Card Usage.

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

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

Also Read | RBSE Class 12 Result 2023 Out: Rajasthan Class 12th Board Examination Results Declared on rajeduboard.rajasthan.gov.in, Check Steps to Download Marksheet.

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."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)