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Saturday, Sep 07, 2002

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RITES net up at Rs 39 cr

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NEW DELHI, Sept. 6

RITES has registered a 160 per cent increase in its turnover which stood at Rs 283 crore for the financial year ending March 2002 as against Rs 181 crore in the previous fiscal.

The company's net profit after tax stood at Rs 39 crore as against Rs 15 crore in 2000-01. The increase in turnover has been mainly from exports, which topped Rs 151 crore as against Rs 61 crore in 2000-01.

On the back of a significant improvement in financial performance, the company declared a dividend of 187 per cent in its recently concluded annual general meeting, stated an official release.

Export contracts to nearly 15 countries including Africa, West Asia, South-East Asia, Europe and Latin America were bagged by the company during the year.

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RITES net up at Rs 39 cr

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