RITES Q2 profit drops to Rs 110 crore
State-owned RITES Ltd on Tuesday reported a 21.4 per cent decline in consolidated profit after tax (PAT) to Rs 110.17 crore for the September quarter.
State-owned RITES Ltd on Tuesday reported a 21.4 per cent decline in consolidated profit after tax (PAT) to Rs 110.17 crore for the September quarter.
The company had posted a consolidated PAT of Rs 140.20 crore in the year-ago period.
The consolidated income of the company during the July-September period dropped to Rs 608.81 crore as against Rs 684.30 crore in the year-ago period, RITES said in a filing to the BSE.
"Decline in revenue is largely attributed to a fall in export earnings and decrease in quality assurance revenue," the company said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.