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State-owned engineering firm RITES Limited on Tuesday (September 30) said it has signed a memorandum of understanding (MoU) with Etihad Rail and its subsidiary, National Infrastructure Construction Company (NICC) LLC, to enhance business collaboration in the mobility sector across the UAE and beyond.
The MoU was signed by H.E. Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Director of RITES Ltd., in the presence of His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, and H.E. Sunjay Sudhir, Ambassador of India to the UAE, during the Global Rail Transport Infrastructure Exhibition & Conference in Abu Dhabi.
Also Read: RITES bags $18-million order from South Africa's Talis Logistics
The partnership aims to combine RITES’ five decades of expertise in consultancy, transport infrastructure, and engineering solutions with the execution capabilities of NICC, creating synergies for infrastructure projects in the region.
First Quarter Results
Net profit for the period also rose slightly by 0.7% year-on-year to ₹91 crore. Revenue for the quarter rose marginally by 0.8% from last year to ₹489.7 crore. The company had reported a topline of ₹485.8 crore in the base quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for RITES surged 7.8% on a year-on-year basis to ₹114 crore, while margins expanded by 150 basis points from last year to 23.3%.
Also Read:RITES shares snap four-day losing streak on highest volumes of 2025 so far
The company also declared its first interim dividend for the financial year 2025-26, which was ₹1.30 per share. The record date for the dividend payout has been fixed as August 12, 2025.
Shares of RITES Ltd ended at ₹246.05, down by ₹2.20, or 0.89%, on the BSE.
The MoU was signed by H.E. Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Director of RITES Ltd., in the presence of His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, and H.E. Sunjay Sudhir, Ambassador of India to the UAE, during the Global Rail Transport Infrastructure Exhibition & Conference in Abu Dhabi.
Also Read: RITES bags $18-million order from South Africa's Talis Logistics
The partnership aims to combine RITES’ five decades of expertise in consultancy, transport infrastructure, and engineering solutions with the execution capabilities of NICC, creating synergies for infrastructure projects in the region.
First Quarter Results
Net profit for the period also rose slightly by 0.7% year-on-year to ₹91 crore. Revenue for the quarter rose marginally by 0.8% from last year to ₹489.7 crore. The company had reported a topline of ₹485.8 crore in the base quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for RITES surged 7.8% on a year-on-year basis to ₹114 crore, while margins expanded by 150 basis points from last year to 23.3%.
Also Read:RITES shares snap four-day losing streak on highest volumes of 2025 so far
The company also declared its first interim dividend for the financial year 2025-26, which was ₹1.30 per share. The record date for the dividend payout has been fixed as August 12, 2025.
Shares of RITES Ltd ended at ₹246.05, down by ₹2.20, or 0.89%, on the BSE.
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