The project involves the provision of engineering services for design- build-finance, upgrade of the Palmyra to Moleson Creek Highway. The said order is scheduled to be completed over the next 60 months which includes 36 months for pre-construction and construction period and 24 months for post construction period (defect liability period). The company said that the letter of acceptance is yet to be issued by the client RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held a 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24.Powered by Capital Market - Live

The company has been appointed as project management consultant (PMC) for the said project. The cost of the project is Rs 148.25 crore (including PMC fee). The company will complete the project within 23 months. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. The counter shed 0.17% to settle at Rs 287.40 on Thursday, 6 December 2024.Powered by Capital Market - Live

The revised total cost for the project stands at Rs 531.77 crore, excluding GST, which marks an increase from the original cost of Rs 288.44 crore. The electrification work is to be carried out on a turnkey basis at the Lumding junction and Badarpur junction section of Lumding division of Northeast Frontier Railway, it added. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. Powered by Capital Market - Live

The revised total cost for the project stands at Rs 531.77 crore, excluding GST, which marks an increase from the original cost of Rs 288.44 crore. The electrification work is to be carried out on a turnkey basis at the Lumding junction and Badarpur junction section of Lumding division of Northeast Frontier Railway, it added. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. Shares of Rites rose 0.49% to end at Rs 275.20 on the BSE on Friday.Powered by Capital Market - Live

Rites has revised estimates for the order from Northeast Frontier Railway entailing railway electrification work of LMG-BPB Section of Lumding Division, N.F Railway on turnkey Basis. The revised cost of the project is Rs 531.77 crore (original cost Rs 288.44 crore). Powered by Capital Market - Live

The National Institute of Solar Energy (NISE), an apex R&D institute under the Ministry of New and Renewable Energy (MNRE). The strategic partnership will leverage RITES' extensive expertise in assuring quality, along with NISE's leadership in solar energy research and technology development, to deliver innovative solutions in the renewable energy sector. It aims at exploring and executing QA projects in solar photovoltaic (PV), solar thermal applications, green hydrogen, and other renewable energy domains. Under this MoU, RITES will provide QA services, while NISE will contribute through research, training, and technological support. Both organizations will work closely to enhance strengthen renewable energy infrastructure and promote skill development initiatives. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. Shares of Rites rose 0.16% to Rs 275.15 on the BSE.Powered by Capital Market - Live

Rites has fixed 15 November 2024 as record date for second interim dividend of Rs 1.75 per share. Powered by Capital Market - Live

RITES announced that the Board of Directors of the Company at its meeting held on 6 November 2024, inter alia, have recommended the Second Interim dividend of Rs 1.75 per equity Share (i.e. 17.5%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Rites declined 27.85% to Rs 72.98 crore in the quarter ended September 2024 as against Rs 101.15 crore during the previous quarter ended September 2023. Sales declined 7.13% to Rs 540.86 crore in the quarter ended September 2024 as against Rs 582.36 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales540.86582.36 -7 OPM %19.6523.67 - PBDT126.22164.34 -23 PBT111.28150.28 -26 NP72.98101.15 -28 Powered by Capital Market - Live

Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. Profit before tax slipped 25.95% year on year (YoY) to Rs 111.28 crore during the second quarter of FY25. Total expenses shed 1.75% to Rs 451.95 crore in Q2 FY25 over Q2 FY24. Employee benefits expense was Rs 121.02 crore (up 1.62% YoY) and finance costs was at Rs 2.42 crore (up 69.23% YoY) during the period under review. On half year basis, the company's net profit tumbled 24.72% to Rs 172.94 crore on 8.88% decline in revenue from operations to Rs 1026.62 crore in H1 FY25 over H1 FY24. Meanwhile, The company's board declared an interim dividend of Rs 1.75 per share for financial year 2024-25 and has set the record date on 15 November 2024. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The scrip rose 0.20% to currently trade at Rs 295.25 on the BSE.Powered by Capital Market - Live