Speed Post News Network
New Delhi : Rail India Technical and Economic Service (RITES) Ltd., a schedule ‘A’, Mini Ratna Enterprise under the Ministry of Railways, has for the first time crossed benchmark turnover of Rs 1,500 crore and registered gross turnover of Rs1,509 crore in 2016-17, which is 18% higher than turnover of Rs 1,278 crore in 2015-16.
Profit After Tax (PAT) during the year was Rs. 331 crore. The company has declared Rs 133 crore to be paid as Dividend, which is equivalent to 66.5% paid up equity capital of Rs 200 crore of which Rs 55 crore has been paid, according to a PIB release.
Addressing the 43rd Annual General Meeting held on August 28, 2017, Rajeev Mehrotra, Chairman and Managing Director, RITES Ltd, said that the last year ended with a healthy order book of Rs 3,731 crore, which is also the highest ever. During the year, the company had 2 bonus issues, each of 5 crore equity shares. This has resulted in an increase of paid-up capital from Rs 100 crore to Rs 200 crore. The authorised share capital of the company was also increased from Rs 200 crore to Rs 300 crore.