Shares of RITES Ltd rose 1% to touch a day’s high of Rs 285.40 on 3rd June. This rise occurred after it emerged as the lowest bidder (L1) for a project worth Rs 28 crore from the Gujarat Urban Development Company Limited.

RITES emerged as the lowest bidder for a Rs 28 crore QCBS tender. This tender was floated by Gujarat Urban Development Company for TPI services under Amrut 2.0/SJMMSVY projects in Gujarat.

The contract is to be executed over 60 months, as per the company’s stock exchange filing.

In Q4, RITES posted a net profit of Rs 141 crore. This was up 3.4% from the same quarter last year. However, revenue fell 4.3% to Rs 615 crore.

EBITDA rose 5.4% year-over-year to Rs 185.5 crore, with margins improving by 564 basis points to 30%.

RITES declared a final dividend of Rs 2.65 per share for FY25. This declaration is pending shareholder approval. The record date is yet to be announced.

In April, the company also won a Rs 28 crore order from Mahanadi Coalfields for engineering and project management consultancy services.

At 2:21 PM, the shares of RITES Ltd were trading 0.18% higher at Rs 279.80 on NSE.

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