RITES, an engineering consultancy company, has secured an order worth Rs 122.60 crore from the Meerut Development Authority.
The orders entail consultancy services for the preparation of a detailed project report (DPR) and construction supervision of all infrastructure works of the Meerut Development Authority for the next five years.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 30 September 2024, the Government of India held a 72.20% stake in the company.
The companys consolidated net profit declined 27.84% to Rs 72.98 crore while revenue from operations fell 7.12% to Rs 540.86 crore in Q2 FY25 over Q2 FY24.
Shares of RITES rose 0.32% to currently trade at Rs 301 on the BSE.
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