RITES Reports Net Profit Of Rs147 Crore In Dec Quarter
PremiumThe company said the total revenue stands at ₹703 crore against ₹792 crore in Q3FY22
NEW DELHI : Transport infrastructure consultancy and engineering firm Rites Ltd on Thursday reported net profit of ₹147 crore in Q3 FY23 from ₹144 crore posted in Q3 FY22.
The company said that the total revenue stands at ₹703 crore against ₹792 crore in Q3FY22
The consolidated EBITDA declined marginally to ₹194 crore in Q3 FY23 as against ₹195 crore in Q3 FY22. However, EBITDA margin improved to 28.6% in Q3 FY23 as compared with 25.2% reported in the same quarter previous year.
“The USP of our diversified business model was again evident in this quarter with a sequential growth as well as 9% growth in PAT in the 9-month period. At the same time, the margins were maintained by capitalising on our core strength — Consultancy, which grew by 21% in the 9-month period," said Rahul Mithal, Chairman and Managing Director, RITES Limited.
Meanwhile, the company’s board declared third interim dividend for the financial year 22-23 of ₹6 per equity share. The record date set for the same purpose is fixed on 17 February 2023.
“With a declaration of the 3rd interim dividend of ₹6 per share, we continue to honour our commitment to our shareholders," he added.
RITES is a miniratna public sector enterprise and a leading player in the transport consultancy and engineering sector in the country. As of 31 December 2022, the Government of India held 72.2% stake in the company.
Shares of RITES closed 0.14% lower at ₹332 on the BSE.
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