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Rites jumps on revising Rs 532 cr railway electrification estimate
25-Nov-24   09:49 Hrs IST

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.

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