Govt receives Rs 69 crore as dividend from RITES

New Delhi: The Government of India has received about Rs 69 crore as dividend from RITES Limited, a senior official said on Friday.

"Government has received about Rs 69 crore from RITES as dividend tranche," Secretary, Department of Investment and Public Asset Management (DIPAM), tweeted. RITES Limited, a schedule 'A', Mini Ratna Enterprise under the Ministry of Railways, has declared an equity dividend of 170 percent amounting to Rs 17 per share for the financial year ending March 2022.

At the current share price of Rs 298.70 the company's dividend yield works out to be 5.69 percent.
The share price of RITES Limited closed 0.38 percent down at Rs 298.70 on the BSE on Friday.
RITES Limited profit after tax jumped by 85.8 percent to Rs 145 crore for the first quarter of the financial year 2022-23. The company's total revenue jumped to Rs 637 crore for the April-June quarter as against Rs 377 crore in the corresponding quarter of the previous year. (ANI)