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The order includes service testing & inspection of 60,00,000 MT Rails (each year around 12,00,000 MT Rails for Indian Railways), approximate inspection fees to be received in 5 years is Rs 65.4 crore plus taxes.
The domestic order will be executed within 5 years plus 1 year (extendable).
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 June 2023, the Government of India held 72.20% stake in the company.
The civil construction company's consolidated net profit declined 21.5% to Rs 108.01 crore on 10% decrease in Rs 544.35 crore in Q1 FY24 over Q1 FY23.
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