Rites trades lower on reporting 21% fall in Q2 consolidated net profit
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Rites is currently trading at Rs. 447.85, down by 4.25 points or 0.94% from its previous closing of Rs. 452.10 on the BSE.
The scrip opened at Rs. 442.50 and has touched a high and low of Rs. 457.30 and Rs. 442.50 respectively. So far 19270 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 583.45 on 11-Sep-2023 and a 52 week low of Rs. 305.75 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 472.25 and Rs. 432.65 respectively. The current market cap of the company is Rs. 10820.79 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 16.70% and 11.10% respectively.
Rites has reported 11.26% fall in its net profit at Rs 116.59 crore for Q2FY24 as compared to Rs 131.39 crore for the same quarter in the previous year. Total income of the company decreased by 9.39% at Rs 600.67 crore for Q2FY24 as compared Rs 662.90 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 21.42% fall in its net profit at Rs 110.17 crore for the quarter under review as compared to Rs 140.20 crore for the same quarter in the previous year. Total income of the company decreased by 11.03% at Rs 608.81 crore for Q2FY24 as compared Rs 684.30 crore for the corresponding quarter previous year.
