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The revised order includes the supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives, which will be fitted with new Cape Gauge Bogies, traction motors, control systems and air brakes. The overhaul will take place at a nominated facility, with one-year on-site warranty support.
The value of the order has been revised from $5.40 million (CIF) to $10.80 million (CIF). The order is expected to be executed within six months from the receipt of advance payment for the additional work.
According to an exchange filing dated 7 October 2024, the original order from Ntokoto Rail Holdings Pty, valued at $5.40 million (CIF), has now been increased to $10.80 million (CIF).
The official announcement was made on 17 March 2025, after market hours.
RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31st December 2024, the Government of India held a 72.20% stake in the company.
The company’s consolidated net profit declined 16.7% to Rs 100.09 crore in Q3 FY25 as compared with Rs 120.14 crore in Q3 FY24. Net sales declined 15.7% to Rs 575.76 crore during the quarter.
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