RITES declares second interim dividend for the FY 2020-21

New Delhi: The board of directors of RITES Limited, at its board meeting held Friday, have declared a second interim dividend of Rs 4 per share on the share with a face value of Rs 10 each (at the rate of 40 percent of paid-up capital).

The second interim dividend brings the company's total dividend for FY21 so far, to Rs 9 per share amounting to Rs 216.27 crore. The record date for the purpose of payment of a dividend is March 20.

As per the company's financial statement, the standalone revenue of the company for the nine months of FY21 has been Rs 1315 crore and profit after tax has been Rs 290 crore.

ALSO READ: 

1. RITES shares up 5% after two work orders from Indian Railways & GMRC

2. RITES bags general consultancy order worth Rs 61 crore from HRIDC

The company has commenced the export shipments to Sri Lanka and Mozambique. The 10 state-of-the-art railway passenger coaches have been successfully delivered to Sri Lanka and the first shipment of two 3000 HP Cape Gauge AC-AC locomotives has been flagged off to Mozambique.

Commenting on export shipments, RITES Chairman & Managing Director (CMD) Rajeev Mehrotra said, "For exports, new product lines in Railways are way forward and such products demonstrate India's 'design, manufacture and export capabilities. We hope the project of supplying Cape Gauge locomotives to Mozambique will open up more export opportunities, for us, in new markets." 

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)