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The likely cost of work for the consultancy project is around Rs 122 crore. The RITES' fees in the work order is around Rs 77 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 31 December 2022, the Government of India held 72.2% stake in the company.
On consolidated basis, the civil construction company's net profit rose marginally to Rs 147.18 crore in Q3 FY23 from Rs 143.87 crore posted in Q3 FY22. Revenue from operations declined 12.62% year on year (YoY) to Rs 677.34 crore for the quarter ended 31 December 2022.
Shares of RITES were up 0.30% to Rs 349.05 on the BSE.
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