RITES posts 18% rise in FY17 revenue at Rs1,509 crore
New Delhi: Railways public sector undertaking (PSU) RITES Ltd recorded an 18% rise in revenue in the last financial year. The company’s gross turnover rose from Rs1,278 crore in 2015-16 to Rs1,509 crore in 2016-17.
Company chairman and managing director Rajeev Mehrotra said last year ended with the highest ever order book of Rs3,731 crore.
He added that the company’s profit after tax during the last fiscal (2016-17) was around Rs331 crore and the company has declared a dividend of Rs133 crore, which is equivalent to 66.5% of paid up equity capital.
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