RITES Q2FY22 Revenue up by 57.9% to Rs. 789 crore

RITES Ltd. (NSE: RITES, BSE: 541556), the leading Transport Infrastructure Consultancy and Engineering company, reported its standalone and consolidated financial results for the Quarter and Half Year ended on 30% September, 2021.

Highlights for Q2FY22 Consolidated Financials

• Total Revenue up by 57.9% to Rs. 789 crore against Rs. 500 crore in Q2FY21
• Operational Revenue up by 72.1% to Rs. 755 crore
• EBITDA up by 67.7% to Rs. 216 crore with sustained margin of 28.6%
• Profit After Tax up by 31.8% to Rs. 174 crore
• Order Book stands at Rs. 6435 crore as on 30th September 2021

Highlights for Q2FY22 Standalone Financials

• Total Revenue up by 57.0% to Rs. 767 crore
• Operating Revenue up by 73.7% to Rs. 734 crore
• EBITDA up by 69.5% to Rs. 198 crore with sustained margin of 27.0%
• Profit After Tax up by 24.8% to Rs. 163 crore
• Board of Directors declares 2"4 interim dividend of Rs. 4 per share

Highlights for H1FY22 Consolidated Financials

• Total Revenue up by 33.1% to Rs. 1166 crore
• EBITDA up by 63.2% to %313 crore with sustained margin of 27.8%
• Profit After Tax up by 27.9% to Rs. 2252 crore
• Earning per share stands at Rs. 10.03 against Rs. 7.69 in HIFY22, up by 30.4%

Commenting on the results, Mr. Rahul Mithal, Chairman and Managing Director, RITES Limited, said, "Building a steady post-pandemic recovery, Q2FY22 revenue has rebounded to Rs. 789 crore, up by 57.9%, against Q2FY21, The commencement of export shipments to Sri Lanka and Mozambique has driven the growth momentum, with RITES focusing on project execution, order book consolidation and sustaining margins."

Revenue and Profit for Q2FY22 - Consolidated

The consolidated revenue in Q2FY22 has increased to Rs. 789 crore as against Rs. 500 crore in Q2FY21. Similarly, operating revenue, excluding other income, stood at Rs. 755 crore in Q2FY22 as against Rs. 439 crore in Q2FY21. This revenue increase is attributed to growth in Consultancy, Leasing, Exports and Energy business. EBITDA and PAT stood at Rs. 216 crore and Rs. 174 crore against Rs. 129 crore and Rs. 132 crore, respectively, in Q2FY21 with operating margins remained range bound.

Shares of RITES Limited was last trading in BSE at Rs. 286.55 as compared to the previous close of Rs. 291.20. The total number of shares traded during the day was 6954 in over 405 trades.

The stock hit an intraday high of Rs. 294.40 and intraday low of 286.30. The net turnover during the day was Rs. 2013807.00.

Source : Equity Bulls

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RITESLimited INE320J01015 Construction Engineering Q2FY22 ResultUpdate