OPEN APP
Home >Companies >Company Results >Rites Q3 result: Net profit falls 30% at 105 crore
Photo: Ramesh Pathania/Mint
Photo: Ramesh Pathania/Mint

Rites Q3 result: Net profit falls 30% at 105 crore

Railways' consultancy firm RITES Ltd today reported 30% decline in consolidated net profit at 105.31 crore for the quarter ended December 31, 2020 as against 150.05 crore in the year-ago period

NEW DELHI : Railways' consultancy firm RITES Ltd on Wednesday reported 30% decline in consolidated net profit at 105.31 crore for the quarter ended December 31, 2020.

It had posted a profit of 150.05 crore in the year-ago period, RITES said in a regulatory filing.

Total revenue during the quarter under review declined to 480.08 crore as against 663.47 crore in the year-ago period.

Total expenditure also fell to 336.54 crore from 466.31 crore.

“Working towards post-pandemic economic growth, the company has maintained its focus on project execution, sustaining margins, and consolidation of order book," said Rajeev Mehrotra, Chairman and Managing Director, RITES.

"EBITDA and PAT stand at 159 crore and 105 crore against 214 crore and 150 crore, respectively, in Q3FY20. EBITDA and PAT margins are sustained and stand at 33.1% and 21.9%, respectively," the company said.

The company’s order book stood at 6,534 crore as on December 31, 2020, which provides revenue visibility for two to three years.

Commenting on outlook, Mehrotra said, “The emphasis on infrastructure development in the Union Budget 2021-22, National Rail Plan and National Infrastructure Pipeline will help drive the growth of the sector, thus providing us opportunities to achieve double-digit growth in FY22 and beyond."

RITES is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout