RITES Q2 PAT drops 20% to Rs 140 crore, income declines to Rs 684 crore

RITES Ltd, a public sector transport consultancy and engineering firm, has reported 19.6 per cent decline in consolidated profit after tax (PAT) at Rs 140.20 crore for September quarter 2022-23.

The company had logged a PAT of Rs 174.49 crore in the year-ago period, RITES said in a BSE filing on Friday.

Income dropped to Rs 684.30 crore from Rs 788.85 crore in the year-ago period.

"The trend of sequential growth as also seen vis-a-vis H1 (April-September) of the previous year continues despite a dip in the export stream of revenue.

"The results reiterate our core strength and the USP (unique selling point) of having a diversified business portfolio," Chairman and Managing Director Rahul Mithal said.

RITES is a miniratna public sector enterprise and a leading player in the transport consultancy and engineering sector in the country.