RITES

received revised estimates from South Western Railway for the railway electrification work of the Mysuru–Hassan–Mangaluru project, with a revised project cost of ₹729.28 crore excluding GST. The work was awarded on a cost-plus turnkey basis and is part of an earlier order secured in June 2021. RITES posted a 2% year-on-year rise in net profit to ₹102 crore in the December quarter.