Sep 17, 2016

Railway PSU RITES Achieves Highest Ever Total Income of Rs. 1294 Crore, Higher by 11% Over The Previous Year

Highest Ever Profit After Tax (PAT) Also Achieved
The Company Pays Highest Ever Dividend
The Company  Announces 1:2 Bonus Shares
Export of Coaches to Bangladesh and Supply of Locomotives to Myanmar are the Key Achievements During the Year 2015-16

RITES Ltd., a schedule ‘A’, Mini Ratna Enterprise under the Ministry of Railways has achieved highest ever total income of Rs. 1294 crore,in financial year 2015-16 higher by 11 percent over the previous financial year. It also recorded the highest ever profit after tax of Rs. 339 crore
against Rs. 306 crore in the previous year. RITES achieved these results despite severe competition from domestic and foreign consultancy companies. The company is expected to get ‘Excellent’ rating in its MOU performance based on the financial results for the year. RITES continues to maintain its key position in transport and infrastructure sectors despite stiff competition. The growth in the business and excellent financial results has led to the dividend payout for the year to Rs. 136 crore, which is 136% of the paid up share capital of the company. This is the highest ever dividend paid so far by the Company. The company has also announced issue of bonus shares to the existing shareholders in the ratio of 1 share for every 2 shares held.
This information was given at the 42nd Annual General Meeting of the Company, by Shri Rajeev Mehrotra, Chairman and Managing Director (RITES). Member Rolling Stock, Railway Board Shri Hemant Kumar was also specially present on the occasion.

PHOTO RITES AGM-2016.jpg
RITES 42nd Annual General Meeting in progress
In his speech, Shri Rajeev Mehrotra, CMD RITES said that one of the key achievements during the year had been the export of broad gauge modern passenger coaches to Bangladesh Railways out of the order of 120 broad gauge coaches secured by the company during last year. RITES also bagged a contract for the supply of 18 MG diesel electric locomotives to Myanma Railways.
In India, RITES has recently secured two major turnkey projects from the Ministry of Railways, for the third line in Pendra Road- Anuppur section of Bilaspur division of South East Central Railway and Gooty- Dharmavaram doubling works for South Central Railway. RITES is also involved in mega transportation projects like dedicated freight corridors, metros, high speed rail studies, logistics parks, rail infrastructure and green energy etc.
With positive scenario for investments in railways and other infrastructure sectors, the company sees high growth in the coming years.

 

NEXT POST

READ MORE -

Rail News - Public service (4140) Rail News - Public service (3678) Rail News - Rail Employee (2326) News - General (426) DIVISION - JABALPUR (357) Rail News - Rail Development (321) Rail News - Job - Career (209) DIVISION - BHOPAL (205) News - Spl Train (201) Rail news - Metro (191) Rail News - Circulars (147) DIVISION - HUBLI (138) DIVISION - MORADABAD (122) Office Order (105) DIVISION - ALLAHABAD (95) Rail news - Public Alert (82) News - Loco Pilot (76) World Rail News (76) Rail News - Rail Budget (69) HIGH SPEED RAIL (68) Rail News - 7th Pay Commission (67) Improvement in Facilities (60) Accidents (59) Rail News - New Train (58) Rail News - Railway Safety (58) Rail news - World Rail (49) Public Interest (38) DIVISION - Delhi (36) Award (35) News- Railway Exam Result (35) Rail News - Freight Services (35) Rail News - Tourism (33) Trade Union (33) Rail News - Sports (31) Bonus (PLB) (30) Rail Development (30) PIB (29) Bullet train (28) new line (26) IRCTC (25) News - Railway Employee (25) Station Master (24) News - Dearness Allowance (23) TATKAL TICKET (22) RPF / RPSF (21) Zone - South Central Railway (21) Complaint and Suggestions (20) Railway Pensioners (20) Mumbai local (19) News - Job - Career (19) Rail News - Security (19) Rail News - Special Train (19) News - Catering (18) Railway News - Metro (18) Railway time table (17) Circulars - Govt of India (16) News - New Tech (16) Scam (16) Know About (15) Rail Accidents (15) Rail News - Railway Revenue (14) Railway Board (14) Catering Related Complaints (13) Railway Joke (13) ‘Premium’ Special Trains (13) DIVISION - RAIPUR (11) Dedicated Freight Corridors (11) Freight Corridor (11) Indian Railway History (11) Rail News - Security (10) Rail news - Employment Notification (10) AISMA (9) News - Exam Result (9) Passenger Amenities (9) Railway News - Delhi Metro (9) Railway pass (9) Zone - Southern Railway (9) Budget (8) DIVISION - Ambala (8) Employee News (8) INCOME TAX (8) PHOTO (8) Public Grievances (8) Rail News - New Rail Line (8) fares hikes (8) semi-high speed (8) Central Railway (7) Night Duty Allowance (7) Rail budget (7) Railway Safety (7) Train Cancellation (7) World Rail - China (7) Zone - Western Railway (7) online tickets (7) Always Important (6) International Railway (6) Mono Rail (6) Mumbai Metro (6) News - Budget (6) Premium Air-Conditioned (6) Rail Fares (6) South Eastern Railway (6) Ticket Booking (6) World Rail - Japan (6) guard (6) Children Education Allowance (5) Drinking Water (5) HELP (5) IRCON (5) LOCOMOTIVE (5) Rail History (5) Rail News - Business (5) booking counters (5) hi-tech (5) macp (5) AIR - RAIL (4) Food plazas (4) IMPORTANT RULE (4) Mumbai (4) News - Railway Rule (4) RAIL TEL (4) Rail Neer (4) Rail News - Rules (4) Railway Minister (4) World Rail - Pakistan (4) escalators (4) extra coaches (4) Booking - Parcel (3) CCTV (3) Coaches (3) DOUBLE DECKER TRAIN (3) Electrification (3) Konkan railway (3) Leave Rule (3) Medical Allowance (3) Member Engineering (3) Modal Question Paper (3) News- Railway Exam (3) PASS (3) Question Bank (3) Rail News - China (3) Rail fare hike (3) Suvidha Train (3) TRANSFER POLICY (3) VAISHNO DEVI (3) Zone - Northern Railway (3) e-ticket booking (3) new pension scheme (3) reservation (3) tatkal ticket (3) Booking - Luggage (2) D & A RULE (2) Extension of train services (2) Khumbn Mela (2) LDCE (2) MATHERAN (2) MOBILE APPS (2) Minister of State for Railways (2) National Rail Museum (2) News - Rail Road (2) News -World Film (2) OROP (2) Passenger Reservation System (2) Police help desk (2) Provident Fund interest (2) Rail News - Goods Train (2) Railway Protection Force (2) Railway Proud (2) Railway Stations (2) Retiring Rooms (2) Revenue earnings (2) Zone - East Central Railway (2) Zone - N E RLY (2) railway station (2) ALER (1) Air Travel (1) DIVISION - CENTRAL RAILWAY (1) DIVISION - MADURAI (1) DIVISION - VIJAYWADA (1) Directory (1) Division - Rangia (1) FOOT OVER BRIDGE (1) FORMS (1) Government Railway Police (1) Holiday Trains (1) House Rent Allowance (1) Interesting Facts (1) LARGESS (1) LONDON (1) MST (1) Measures Against Fire (1) Medical Care (1) Ministry of Railway (1) News - TV (1) Passenger Security (1) RDSO (1) Rail - Roko (1) Rail Bridges (1) Rail News - Privatization (1) Rail News - Bengali (1) Rail Tariff (1) Rail Tenders (1) Rail e-tickets (1) Railway Act (1) Railway Quarter (1) Railway Week (1) Rath Yatra (1) Road over Bridges work (1) SCRA (1) SKY BUS (1) Suburban trains (1) Swadeshi (1) TRAVELLING ALLOWANCE (1) Ticket Examiner Staff (1) Track Man (1) WhatsApp (1) World Rail - New York (1) World Rail - Russia (1) World Rail - USA (1) World Rail - Washington (1) Zone - E RLY (1) Zone - N C RLY (1) Zone - North Western Railway (1) Zone - Northeast Frontier Railway (1) Zone - S E Railway (1) fire-fighting equipment (1) mobile ticket booking (1) smart card (1) wagon factories (1)

Followers