India's Rites falls on lower quarterly profit

Rites

31/07/2024 10:03

** Shares of Rites  RITS.NS  down as much as 3.1% at 731 rupees
    ** The engineering and consultancy company on Wednesday reported a 24% drop
in consolidated profit at 904.4 million rupees in the June quarter   
    ** It's revenue declined 10% to 4.86 billion rupees
    ** Over 3.2 mln shares change hands, 0.8x the 30-day avg
    ** Stock last down 3%, trimming YTD gains to 45.7%

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))