The Rail India Technical and Economic Services Ltd (RITES), a Railways public sector undertaking, expects to better its 1995-96 turnover of over Rs 100 crore. Although the audit of the companys accounts for 1996-97 are still not complete, early indications suggest the turnover is likely to exceed Rs 125 crore.
As per present business trends in the company, the turnover of Rs 109.89 crore in 1995-96 is likely to rise to even further levels in 1997-98.
The companys profits have also shown a consistent upswing. Keeping in line with its unbroken profitability record, profits before tax were at the Rs 25.24 crore level in 1995-96 as compared to Rs 19.84 crore in 1994-95 and Rs 13.54 crore in 1993-94.
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In 1992-93, profits before tax were of the order of Rs 10.87 crore while in 1991-92 it was Rs 7.94 crore.
Official sources said there has also been an encouraging increase in foreign exchange earnings with levels shooting up to Rs 33.4 crore in 1995-96, an increase of 87.7 per cent over the Rs 17.7 crore raked in in 1994-95.