RITES Q2 profit drops to Rs 110 crore

State-owned RITES Ltd on Tuesday reported a 21.4 per cent decline in consolidated profit after tax (PAT) to Rs 110.17 crore for the September quarter.

RITES Q2 profit drops to Rs 110 crore
The company had posted a consolidated PAT of Rs 140.20 crore in the year-ago period. Image Source: rites.com/India

State-owned RITES Ltd on Tuesday reported a 21.4 per cent decline in consolidated profit after tax (PAT) to Rs 110.17 crore for the September quarter.

The company had posted a consolidated PAT of Rs 140.20 crore in the year-ago period.

The consolidated income of the company during the July-September period dropped to Rs 608.81 crore as against Rs 684.30 crore in the year-ago period, RITES said in a filing to the BSE.

"Decline in revenue is largely attributed to a fall in export earnings and decrease in quality assurance revenue," the company said.

 

 

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Written By: PTI
Updated: Tue, Oct 31, 2023
06:41 PM IST
PTI
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