RITES reports 11% rise in 2011-12 income and approves 6:4 bonus shares
RITES Limited, a Mini Ratna Schedule ‘A’ company under the Ministry of Railways has reported an impressive growth by achieving highest ever turnover of Rs 934 crores for the year ended 31st March 2012 (higher by 11 %) against Rs 842 crores of previous year. The company has earned Profit After Tax of Rs 164 crores for the year. Its Net Worth has also crossed Rs.1000 crores,
In its 38th Annual General Meeting held on 12 September, 2012, the company has declared a dividend of Rs 33 crores which is 82.5% of the paid up share capital.
Keshav Chandra, chairman, RITES stated that the shareholders have also approved issue of bonus shares of Rs 60 crores in the ratio of 6:4 ( six bonus shares for 4 shares held) , which will enhance the total paid up capital of the company to Rs 100 crores against Rs 40 crores as of now. MD RITES Rajeev Mehrotra stated that company while, consolidating its core area of consultancy business, is also exploring other growth areas like wagon manufacturing, energy management etc.