RITES said that it has received a letter of award (LoA) from Tata Steel for Loco Hiring along with operation and maintenance.
The value of the said contract is Rs 39.63 crore. The order has to be executed by April 20, 2027.
RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 December 2023, the Government of India held 72.20% stake in the company.
The company has reported 4.48% fall in consolidated net profit to Rs 126.10 crore on a 6.34% decline in revenue to Rs 643.25 crore in Q4 FY24 over Q4 FY23.
The scrip shed 0.07% to currently trade at Rs 646.20 on the BSE.
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