The National Institute of Solar Energy (NISE), an apex R&D institute under the Ministry of New and Renewable Energy (MNRE). The strategic partnership will leverage RITES' extensive expertise in assuring quality, along with NISE's leadership in solar energy research and technology development, to deliver innovative solutions in the renewable energy sector. It aims at exploring and executing QA projects in solar photovoltaic (PV), solar thermal applications, green hydrogen, and other renewable energy domains. Under this MoU, RITES will provide QA services, while NISE will contribute through research, training, and technological support. Both organizations will work closely to enhance strengthen renewable energy infrastructure and promote skill development initiatives. 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 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. Shares of Rites rose 0.16% to Rs 275.15 on the BSE.Powered by Capital Market - Live

Rites has fixed 15 November 2024 as record date for second interim dividend of Rs 1.75 per share. Powered by Capital Market - Live

RITES announced that the Board of Directors of the Company at its meeting held on 6 November 2024, inter alia, have recommended the Second Interim dividend of Rs 1.75 per equity Share (i.e. 17.5%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Rites declined 27.85% to Rs 72.98 crore in the quarter ended September 2024 as against Rs 101.15 crore during the previous quarter ended September 2023. Sales declined 7.13% to Rs 540.86 crore in the quarter ended September 2024 as against Rs 582.36 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales540.86582.36 -7 OPM %19.6523.67 - PBDT126.22164.34 -23 PBT111.28150.28 -26 NP72.98101.15 -28 Powered by Capital Market - Live

Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. Profit before tax slipped 25.95% year on year (YoY) to Rs 111.28 crore during the second quarter of FY25. Total expenses shed 1.75% to Rs 451.95 crore in Q2 FY25 over Q2 FY24. Employee benefits expense was Rs 121.02 crore (up 1.62% YoY) and finance costs was at Rs 2.42 crore (up 69.23% YoY) during the period under review. On half year basis, the company's net profit tumbled 24.72% to Rs 172.94 crore on 8.88% decline in revenue from operations to Rs 1026.62 crore in H1 FY25 over H1 FY24. Meanwhile, The company's board declared an interim dividend of Rs 1.75 per share for financial year 2024-25 and has set the record date on 15 November 2024. 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 72.20% stake in the company. The scrip rose 0.20% to currently trade at Rs 295.25 on the BSE.Powered by Capital Market - Live

The project comprises of retrofit work in RS-1 Trains of DMRC. The project has to be executed within a period of 3 years. RITES' share in the tender is approximately Rs 36.36 crore. 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 72.20% stake in the company. The company's consolidated net profit declined 24.37% to Rs 90.44 crore in Q1 FY25 as against Rs 119.58 crore recorded in Q1 FY24. Revenue from operations declined 10.76% to Rs 485.76 crore in the quarter ended 30 June 2024 from Rs 544.35 crore posted in Q1 FY24. The scrip rose 0.64% to currently trade at Rs 296.55 on the BSE. Powered by Capital Market - Live

Rites consortium has received the Letter of Acceptance (LOA) on 05 November 2024 from Delhi Metro Rail Corporation (DMRC) for 'Retrofit Work in RS-1 Trains of DMRC'. Rites share is Rs. 36.36 crore approx. excluding GST. Powered by Capital Market - Live

RITES has informed that Shri Anjeev Kumar Jain the Executive Director (Finance) has been relieved from RITES Limited on 01.11.2024, afternoon to join as Director (Finance) of NBCC (India) Limited and thereby ceased to be among the Senior Management of the Company.Powered by Capital Market - Live

RITES pursuant to emergence as Lowest Bidder (L-1) in tender floated by UP State Bridge Corporation Limited has received the Letter of Acceptance on October 28, 2024 from U.P. State Bridge Corporation Limited for Consultancy Services for Construction Supervision of Civil Works (CSC) for Supervision, Monitoring, Quality Control, and Work Zone Safety for Construction of Bridges, Rail Over/Under Bridges, Flyovers and Elevated Roads including approaches in several districts of Uttar Pradesh. The order is worth Rs.59.13 crore.Powered by Capital Market - Live

Rites entered into a Memorandum of Agreement (MoA) with NMDC to provide comprehensive Project Management Consultancy services. This MoA marks a strategic collaboration aimed at developing, upgrading, and creating rail connectivity for NMDC's mines and related facilities across locations. Through this partnership, RITES will offer end-to-end Consultancy services from concept to commissioning, focusing on the reconnaissance survey, feasibility study, Detailed Project Report (DPR), and project management for rail connectivity projects. This includes allied civil works such as roads, bridges, and other infrastructure necessary for efficient transportation and logistics in NMDC's operational areas. The collaboration emphasizes RITES' capabilities in handling complex railway infrastructure projects and NMDC's commitment to enhancing operational efficiencies through modern rail connectivity. With expertise in railway engineering and project management, RITES will assist NMDC in executing these critical projects to streamline the transport of raw material and improve logistical capabilities. Powered by Capital Market - Live