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Last Updated : Feb 13, 2019 12:21 PM IST | Source: PTI

At Rs 562 crore, RITES revenue registers 42.6% rise in Q3 FY19

RITES is an engineering consultancy company under the aegis of the Indian Railways.

Representative image
Representative image

RITES, a public sector unit under the Ministry of Railways, said it has registered a revenue of Rs 562 crore in the quarter ending December, registering an increase of 42.6 percent over the same period last year.

RITES is an engineering consultancy company under the aegis of the Indian Railways.

The board of directors of RITES in a meeting on February 12 approved the results for the third quarter and nine months ending December 31, 2018, according to a statement issued on February 13.

Chairman and Managing Director, RITES Limited, Rajeev Mehrotra, said, “I am pleased to announce that with strong focus on execution of projects, the company has recorded a total revenue of Rs 562 crore in the Q3'FY19, up by 42.6 percent over Q3'FY18 and a total revenue of Rs 1,402 crore in nine month ending December 31, 2018, up by 38.2 percent on YoY (year-over-year) basis."

"RITES supplied the first set of DMU and locomotive to the Sri Lanka Railways in Q3'FY19," he said.

Since, the DMU set has been successfully tested, supply of further lots is expected to take place in the fourth quarter of FY19 and onwards, Mehrotra said.
First Published on Feb 13, 2019 12:08 pm
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