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RITES shares up 2pc after 70pc rise in Q4 profit

Share of the railway consultancy firm RITES Ltd rose over 2pc at an intraday high level at Rs.286.90 per share on the NSE, on Thursday.

This is after the Company on Wednesday posted a 70% rise in standalone profit after tax to Rs.131.82-Cr for the fourth quarter of 2018-19. It had posted a profit of Rs77.46crore in the year-ago period. Its standalone revenue during the Jan-March quarter advanced to Rs761.84-crore, V/s to Rs571.35crore in the year-ago period. 

During the afternoon hours of trade, RITES shares were trading at Rs283.55 up by Rs.6.05 or 2.18% on the NSE.  Meantime, the benchmark index Sensex quoted at 3982658 up 324 pts and the NSE Nifty at 11946.80, up 85points at 3.25pm.