Construction & Engineering firm RITES Announced Q1FY23 Result :

• RITES revenue rises 68.8% to Rs 637 crore
• RITES PAT rises 85.8% to Rs 145 crore
• RITES declares interim dividend of Rs 4 per share
• Consolidated Financials:
  • Total Revenue stands at Rs 637 crore against Rs 377 crore in Q1FY22, up by 68.8%
  • Operating Revenue stands at Rs 605 crore against Rs 355 crore in Q1FY22, up by 70.4%
  • EBITDA stands at Rs 179 crore against Rs 97 crore in Q1FY22, up by 84.5%
  • Profit After Tax stands at Rs 145 crore against Rs 78 crore in Q1FY22, up by 85.8%
  • RITES operating revenue, excluding other income, is up by 70.4% at Rs 605 crore in Q1FY23 as against Rs 355 crore in Q1FY22. Total revenue was Rs 637 crore as against Rs 377 crore in Q1FY22. The increase in the total revenue was supported by continued momentum across all sectors and disciplined execution. EBITDA and PAT stood at Rs 179 crore and Rs 145 crore against Rs 97 crore and Rs 78 crore, up by 84.5% and 85.8%, respectively, in Q1FY22. EBITDA and PAT margins were improved and stood at 29.7% and 22.7%, respectively. The growth in revenue and profits is attributable to all segments.
• Standalone Financials:
  • Total Revenue stands at Rs 610 crore against Rs 359 crore in Q1FY22, up by 69.9%
  • Operating Revenue stands at Rs 578 crore against Rs 333 crore in Q1FY22 up by 73.9%
  • EBITDA stands at Rs 156 crore against Rs 78 crore in Q1FY22, up by 99.7%
  • Profit After Tax stands at Rs 129 crore against Rs 70 crore in Q1FY22, up by 83.4%
  • Declares Interim Dividend of Rs 4 per share
  • Operating revenue, excluding other income, was up by 73.9% and stood at Rs 578 crore in Q1FY23 against Rs 333 crore in Q1FY22. Total standalone revenue was Rs 610 crore against Rs 359 crore in Q1FY22. EBITDA and PAT stood at Rs156 crore and Rs 129 crore against Rs 78 crore and Rs 70 crore, up by 99.7% and 83.4%, respectively, in Q1FY22. EBITDA and PAT margins were 27% and 21.2%, respectively.

Commenting on the results, Mr. Rahul Mithal, Chairman and Managing Director, RITES Limited, said, “Surging Ahead: Our performance in Q1 shows that RITES continues to be on the path of a V-shaped recovery in sync with the rebound of the economy.”

Result PDF