The locomotives would be fitted with new cape gauge bogies, traction motors, control system air braked, etc. They would be overhauled at nominated facility and an on-site warranty support would be provided for a period of one year.
The order has to executed within a period of six months.
The value of the aforementioned contract is $5.4 million, which at the prevailing exchange translates to Rs 45.33 crore.
RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company.
The company’s consolidated net profit declined 24.37% to Rs 90.44 crore in Q1 FY25 as against Rs 119.58 crore recorded in Q1 FY24. Revenue from operations declined 10.76% to Rs 485.76 crore in the quarter ended 30 June 2024 from Rs 544.35 crore posted in Q1 FY24.
The scrip gained 0.34% to currently trade at Rs 296.75 on the BSE. It has hit a high of Rs 298.65 and a low of Rs 292.30 so far in today's trading session.