RITES Secures Tender for 10 Locomotives in CFM Mozambique, Loses Bid for 300 Wagons

20 Nov 2023 , 02:14 PM

RITES Ltd secures a tender for 10 diesel-electric locomotives from CFM Mozambique. Bid for 300 high-side wagons goes to another bidder. The successful bid for locomotives is valued at $37,680,080.

CFM Mozambique completes scrutiny/evaluation process, conveys outcomes in a letter dated November 13, 2023. Opportunity provided for contesting the decision within three working days; contestation period expired on November 16, 2023.

RITES Q2 FY24 earnings report shows a 21.5% decrease in PAT to Rs 110.17 crore, with operating revenue at Rs 582.36 crore, down 11.6% from the year-ago quarter.

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