The Hindu Business Line : RITES records Rs 118-cr net

New Delhi, Sept 27 RITES Ltd, a subsidiary of Indian Railways, has registered a record high net profit of Rs 118 crore for the fiscal 2006-07, registering 19.2 per cent over the previous year’s net profit of Rs 99 crore.

Turnover

The public sector unit registered its highest-ever turnover of Rs 566 crore, up 32.9 per cent against previous fiscal’s Rs 426 crore.

Turnover from export of locomotives and rolling stock including leasing was the highest-ever at Rs 266 crore, said an official press release.

The locos were exported to a number of new countries for the first time including Angola, Senegal and Mali.

RITES has declared a total dividend payment of Rs 40 crore for the year, which is the highest-ever paid so far.

Mr R.K. Rao, Chairman (RITES) and the Member Mechanical, Railway Board, said that in the face of an extremely competitive business scenario, RITES succeeded in securing challenging and prestigious contracts worth Rs 742 crore, including Rs 535 crore in India.

RITES is also conducting a multi-modal transport plan study, commissioned by the Planning Commission on traffic flows and modal costs of railways, airways coastal shipping for 2026.

More Stories on : Railways | Financial Performance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
BA World Cargo hikes fuel surcharge

Chennai-China box traffic to double in Oct

Order wins augur well for ABG Shipyard

11 Indian officials shifted to Mumbai at one go

CMA Rail to become holding company of CMA CGM

Retirement age for port, dock workers raised to 60

RITES records Rs 118-cr net

Metre gauge locos for Mozambique flagged off

First post office Rly reservation centre in Gujarat