New Delhi: RITES reported a 24.4 per cent decline in Q1 net profit to Rs 90.4 crore compared to RS 119.6 crore in the year-ago period. The company’s revenue declined 10.8 per cent to Rs 486 crore from Rs 544.3 crore in the year-ago period. The railway PSU company’s EBITDA was down 34.5 per cent on-year basis, while the margin contracted tp 21.8 per cent from 29.8 per cent a year ago.
RITES share price today
RITES’ share price was down 5 per cent to Rs 717.5 apiece on Wednesday, amid disappointing Q1FY25 earnings.
However, the company’s stock was up 4.01 per cent in the past 5 days
In the past month, it was up 3.72 per cent
RITES’ share price was down 3.46 per cent in the past 6 months
The company’s share price was up 54.47 per cent in the past year
RITES Q1 dividend
RITES’ board approved a 1:1 bonus share issue for every single share held of the railway PSU company as per the record date. The company issued 1:4 bonus shares in 2019. RITES’ shareholders will also be eligible for a Rs 2.5 per share interim dividend with the record date fixed on August 8, 2024.
RITES share price target
Elara Capital forecasted a 30 per cent correction in RITES’ share price in February 2024, with a share price target of Rs 515 apiece.
Prabhudas Lilladher gave a share price target of RS 805 apiece on RITES with stop loss at Rs 617 apiece.
RITES share price: The railway PSU company’s Q1 net profit was down 24.4 per cent on-year basis. Know how the stock may perform on Wednesday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
