Stock Rise: RITES up 3pc on Result Updates


Rites Limited, one of India’s leading Transport Infrastructure Consultancy & Engineering Company, has reported financial results for the Quarter& Half Year ended on 30th Sept 2019.

According to the results, as a major highlight, the Company’s total standalone revenue went up by 88.2-pc to Rs.874-Crore, while the revenue from the operation has advanced by 70.8-pc to Rs.726-cr in Q2FY20.

Profit Before Tax rose by 91.6-pc to Rs.317-Cr, while operating Profit scaled up by 34.2-pc to Rs.170-crore.

The Company’s total standalone revenue has gone up by 71.0-pc to Rs.1423-Cr in Half Year ended on 30th Sept 2019. Likewise, the operational revenue, leaving out other income, has reached to an extent at Rs.1245-cr, up by 69.3%.

Reacting to this result, shares of  Rites zoomed over 3% in intraday trade today after the company’s profit widened in Q2FY20.To more updated Stock Tips and Free stock Tips visit our website.

The stock which last closed at Rs.287.65-per share has registered a high of Rs.303.75 and also dipped to a low of Rs.293-per share. At 12.50-pm, the stock was trading at Rs.296.30-per share, up by Rs.8.65 or 3.01% on Thursday.

Meanwhile, at the same time, the benchmark indices were moving between gains and losses with BSE Sensex at 40123.36 up by 7.30 points and the Nifty at 11,823.50, down by 17 points in trade.

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