RITES Ltd turnover rises

The railways' enterprise would pay dividend of Rs 133 crore

GN Bureau | August 29, 2017


#PSU   #railway   #RITES   #turnover   #Rajeev Mehrotra   #Sri Lanka   #Bangladesh   #Mauritius   #Senegal  

 RITES Ltd, a railway ministry enterprise, has for the first time crossed benchmark turnover of Rs 1,500 crore and clocked gross turnover of Rs 1,509 crore in FY 2016-17, which is 18 percent higher than turnover of Rs 1,278 crore in 2015-16. 

Profit after tax (PAT) during the year was Rs 331 crore. It would pay the dividend of Rs 133 crore which is equivalent to 66.5 percent paid up equity capital of Rs 200 crore of which Rs 55 crores has been paid, a release stated.
 
Chairman and managing director, RITES Ltd, Rajeev Mehrotra said last year ended with a healthy order book of Rs 3,731 crore, which is also the highest ever. “During the year, the PSU had two bonus issues which resulted in an increase of paid-up capital from Rs 100 crore to Rs 200 crore. The authorised share capital of the company was also increased from Rs 200 crore to Rs 300 crore,” he said.
 
In the past, RITES has been rated as excellent in its MoU performance.
 
Key achievements during 2016-17 fiscal were securing of a high value export order of Rs 680 crore from Sri Lanka Railways for the supply of locomotives and DMU train sets and signing of contract with Mauritius government for providing services for implementation of light rail transit system. RITES successfully completed contract with Bangladesh Railway for supply of 120 Linke Hofmann Busch (LHB) coaches made at RCF Kapurthala and export of six 1350 HP locomotives to Senegal.
 

Comments

 

Other News

When police data becomes the algorithm

For decades, policing has followed a familiar sequence: a crime occurs, the police respond, an investigation produces records and those records become part of the institutional memory of the criminal justice system. Artificial intelligence is beginning to alter that sequence. Instead of merely recording

Before India voted, the framers worried about the referee

“We are making a Constitution forever and not only for today.” Shibban Lal Saksena said this in the Constituent Assembly on June 15, 1949. He was warning that a ruling party might one day choose a loyalist to run India’s elections. Seventy-seven years later, the Supreme Court is wrestli

Delhi moves to real-time traffic management

The Cabinet Committee on Economic Affairs (CCEA), chaired by prime minister Narendra Modi, has approved implementation of the ITMS Project by Delhi Police at an estimated cost of Rs.1,789.52 crore, inclusive of taxes. The project will cover 42 identified traffic corridors and will be implemented in three

MDR on UPI: Can sustainability come without weakening the network?

The extraordinary transaction volumes and value (₹29.82 Lakh crore in August 2026 alone) of the Unified Payments Interface (UPI) have made it not only an Indian success story, but a global one. In 2024, UPI accounted for nearly 49% of the world’s real-time payment transaction volume, with more th

The Xi-Trump summit: The unending rivalry

Diplomacy is akin to an art, wherein the summitry, conflict resolution and negotiations form apt constituents of the entire context of deal making and “playing for keeps” in the international arena. The Xi-Trump summit in Washington last week, in which the American president broke all conside

“Indians, yet treated like outsiders”

Moving to Delhi-NCR for education can be an exciting experience for students from Northeast India. It gives us a chance to meet new people, experience a different culture and become more independent. But living away from home also comes with challenges that people who have not experienced them may not al

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter