RITES Ltd Q2 results, standalone revenue at Rs 475 crore, declares interim dividend

RITES Ltd, a leading transport infrastructure consultancy and engineering firm, has announced its standalone and consolidated financial results for the quarter ended September 30, 2024. The consolidated operating revenue, excluding other income, is reported at Rs 541 crore for Q2 FY25, compared to Rs 582 crore in Q2 FY24, reflecting a decline of 7.1%.

Total revenue stands at Rs 562 crore, down from Rs 609 crore in the same quarter last year. The company recorded an EBITDA of Rs 107 crore and a profit after tax (PAT) of Rs 83 crore, resulting in margins of 19.9% and 14.7%, respectively.

Operating revenue, excluding other income, stands at Rs 510 crore in Q2FY25 against Rs 549 crore in Q2FY24. Total standalone revenue is Rs 554 crore against Rs 601 crore in Q2FY24. EBITDA and PAT, with respective margins of 15.7% and 15.5%, stand at Rs 80 crore and Rs 86 crore against Rs 111 crore and Rs 117 crore, respectively, in Q2FY24.

RITES operating revenue (consolidated), excluding other income, stands at Rs 1027 crore in H1FY25 as against Rs 1127 crore in H1FY24. Total revenue stands at Rs 1070 crore as against Rs 1171 crore in H1FY24. Year-on-year, there is a decrease in revenue on account of a significant dip in revenue from the Export segment, Quality Assurance business and consultancy abroad. EBITDA and PAT stand at Rs 215 crore and Rs 173 crore against Rs 301 crore and Rs 230 crore, respectively, in H1FY24. EBITDA and PAT margins at 21.0% and 16.2%, respectively.

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The Board of Directors has declared the second interim dividend of Rs 1.75 per share amounting to Rs 84 crore.

The record date for the purpose of payment of dividends is November 15, 2024. The company has secured more than 90 orders (including extension of works) worth more than Rs 729 crore in Q2FY25, thereby maintaining a healthy order book of Rs 6581 crore as of September 30th, 2024.  

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