Shares of RITES Ltd ended 2.5% higher, after touching a day’s high of Rs 253.23 on 1st October, following the company’s announcement that it has signed a memorandum of understanding (MoU) with Etihad Rail and its subsidiary, National Infrastructure Construction Company (NICC) LLC, to strengthen business collaboration in the mobility sector across the UAE and beyond.

The MoU was signed by H.E. Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Director of RITES Ltd. It was in the presence of His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, and H.E. Sunjay Sudhir, Ambassador of India to the UAE. This took place during the Global Rail Transport Infrastructure Exhibition & Conference in Abu Dhabi.

The partnership will combine RITES’ five decades of expertise in consultancy, transport infrastructure, and engineering solutions. This will join with NICC’s execution strengths to create synergies for infrastructure projects in the region.

RITES First Quarter Results

RITES reported a slight 0.7% year-over-year rise in net profit to Rs 91 crore. Revenue grew 0.8% to Rs 489.7 crore, compared with Rs 485.8 crore in the same quarter last year.

EBITDA rose 7.8% to Rs 114 crore, with margins improving by 150 basis points to 23.3%.

The company also announced its first interim dividend for FY 2025-26 at Rs 1.30 per share. The record date is set as 12th August, 2025.

At 3:30 PM, the shares of RITES ended 2.42% higher at Rs 252 on NSE.

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