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RITES Ltd reported a 25 per cent fall in net profit to ₹83 crore for the quarter-ending September 30, 2024. The net profit in the year-ago period was ₹110 crore.
Operating revenue stood at ₹541 crore for the period under review, down 7 per cent. For the period, EBITDA stood at ₹107 crore with margins at 19.9 per cent.
The company’s order book stood at ₹6,581 crore; and over 90 of these, valued at ₹729 crore were received in Q2.
RITES, in a statement, said the Consultancy business continues to provide the highest revenue – around ₹272 crore with margins at 29.6 per cent in Q2. Leasing revenue stands at ₹35 crore with margins at 31.9 per cent, while turnkey revenue stands at ₹201 crore.
No exports were carried out, barring a few spares, during the quarter, it further said.
The RITES Board has declared a second interim dividend of ₹1.75 per fully paid-up equity share, with a pay-out ratio of 97.9 per cent.
“Our performance is in line with our aim to be improving sequentially and trying to reach levels of the previous FY (FY24),” Rahul Mithal, Chairman and Managing Director of RITES Limited, said.
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