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Indian Railways consultancy arm nets 
390 million
Thursday, 05 September 2002, 19:30 IST
NEW DELHI: RITES, the consultancy arm of the Indian Railways, recorded a 160 percent increase in turnover from 
1.81 to 2.83 billion during fiscal 2001-02.
The net profit of the state-owned company, set up in 1974, was 390 million after taxes, Rail India Technical and Economic Services chairman Ashok Kumar announced here Wednesday at the company's annual general body meeting.
Most of the company's growth had come from overseas projects and exports, said Kumar.
The company's earnings from exports went up from 610 million in 2000-01 to 1.51 billion in 2001-2002. This year, RITES would be paying the government a record dividend of 187 percent.
The company has about 26 on-going projects abroad in more than 15 countries in Africa, the Middle East, South East Asia, Europe and Latin America.
Of the total of 70 experts it has deployed overseas, 51 are in Britain to provide signaling design and drawing work support services for rail electrification sectors to Jarvis Facilities.
A profit-making subsidiary of Indian Railways, RITES exported the highest number of locomotives to Bangladesh and Sri Lanka last year.
The highway division of the company recently secured a contract to review design and tender documents as well as evaluate bids for the Ethiopian Road Authority. It is also providing consultancy for highway projects in Bhutan, Myanmar, Nepal and Bangladesh.
In Tanzania, RITES has secured a contract for the refurbishment and supply of railway wagons.
Within the country, RITES is providing consultancy services to the national highway authority as well as the state highway authorities of Tamil Nadu, Punjab, Haryana, Delhi, Andhra Pradesh and Gujarat.
The company prepared the master plan for the Delhi Metro and is providing general consultancy to the project, which is expected to begin trial runs of this first phase soon.
Source: IANS
1.81 to 2.83 billion during fiscal 2001-02.
The net profit of the state-owned company, set up in 1974, was 390 million after taxes, Rail India Technical and Economic Services chairman Ashok Kumar announced here Wednesday at the company's annual general body meeting.
Most of the company's growth had come from overseas projects and exports, said Kumar.
The company's earnings from exports went up from 610 million in 2000-01 to 1.51 billion in 2001-2002. This year, RITES would be paying the government a record dividend of 187 percent.
The company has about 26 on-going projects abroad in more than 15 countries in Africa, the Middle East, South East Asia, Europe and Latin America.
Of the total of 70 experts it has deployed overseas, 51 are in Britain to provide signaling design and drawing work support services for rail electrification sectors to Jarvis Facilities.
A profit-making subsidiary of Indian Railways, RITES exported the highest number of locomotives to Bangladesh and Sri Lanka last year.
The highway division of the company recently secured a contract to review design and tender documents as well as evaluate bids for the Ethiopian Road Authority. It is also providing consultancy for highway projects in Bhutan, Myanmar, Nepal and Bangladesh.
In Tanzania, RITES has secured a contract for the refurbishment and supply of railway wagons.
Within the country, RITES is providing consultancy services to the national highway authority as well as the state highway authorities of Tamil Nadu, Punjab, Haryana, Delhi, Andhra Pradesh and Gujarat.
The company prepared the master plan for the Delhi Metro and is providing general consultancy to the project, which is expected to begin trial runs of this first phase soon.
Source: IANS