RPIL has posted net profit of Rs 371 lakh in Q1

Mumbai, July 31 (UNI) Ritesh Properties and Industries Ltd (RPIL), with a diversified interest in real estate, retail and exports, has posted a net profit after tax (PAT) of Rs 371 lakh for the first quarter ended June 30.

The company had posted a loss of Rs 55 lakh for the same period last year. The same is up by 772 per cent.

The company has achieved consolidated net sales of Rs 2,015 lakh during the first quarter ended June 30, as against net sales of Rs 42 lakh during the corresponding quarter of the previous year, up by 4,745 per cent.

Ritesh Industries Managing Director Sanjeev Arora said ''The surge in the net is in the backdrop of our real estate business. The revenue of which have started flowing into the books. The real estate development will be the key segment for us in the ensuing period too.'' The earning per share (EPS) of Ritesh Industries is Rs 4.02 for the quarter and an increase of 590 per cent and net worth has increased by 932 per cent.

UNI