Declares 3rd Interim Dividend of ₹1.9/share
Gurugram, January 28, 2025: RITES Ltd. (NSE: RITES, BSE: 541556), the leading Transport Infrastructure Consultancy and Engineering firm, today announced its standalone and consolidated financial results for the Quarter ended on December 31st, 2024.
The Takeaways
- Sequential Total Revenue up by 9.3%, from ₹562 crore to ₹614 crore;
PAT from ₹83 crore to ₹109 crore - Highest-ever Order Book of ₹7978 crore; Secured 110+ orders worth ₹1933 crore in Q3,
nearly equal to the orders received in the entire FY24 - Third interim dividend of ₹1.9 per share, with Payout Ratio of 96.1%
Q3FY25 Financials (Consolidated)
- Operating Revenue at ₹576 crore
- EBITDA at ₹123 crore with Margins of 21.3%
- PAT at ₹109 crore against ₹129 crore in Q3FY24
9MFY25 Financials (Consolidated)
- Total Revenue stands at ₹1685 crore against ₹1871 crore in 9MFY24
- EBITDA at ₹338 crore with Margins at 21.1%
- PAT at ₹282 crore against ₹359 crore in 9MFY24
Commenting on the results, Mr. Rahul Mithal, Chairman and Managing Director, RITES Limited, said, “This quarter’s performance reflects our being able to achieve our targeted objective of making steady progress sequentially, improving in all the parameters.”
Financial Performance in Q3FY25
RITES operating revenue (consolidated), excluding other income, stands at ₹576 crore in Q3FY25 as against ₹683 crore in Q3FY24, a dip by 15.7%. Total revenue is ₹614 crore as against ₹700 crore in Q3FY24. EBITDA and PAT stand at ₹123 crore and ₹109 crore with margins of 21.3% and 17.8%, respectively. Year-on-year, there is a decrease in revenue which is attributed to lesser revenue from quality assurance, a downtick in turnkey and no exports.
Standalone
Operating revenue, excluding other income, stands at ₹545 crore in Q3FY25 against ₹653 crore in Q3FY24. Total standalone revenue is ₹592 crore against ₹678 crore in Q3FY24. EBITDA and PAT, with respective margins of 16.6% and 16.1%, stand at ₹90 crore and ₹95 crore against ₹144 crore and ₹119 crore, respectively, in Q3FY24.
Financial Performance in 9MFY25
RITES operating revenue (consolidated), excluding other income, stands at ₹1602 crore in 9MFY25 as against ₹1810 crore in 9MFY24. Total revenue stands at ₹1685 crore as against ₹1871 crore in 9MFY24. Year-on-year, there is a decrease in revenue on account of a significant dip in revenue from the Export segment, Quality Assurance business and consultancy abroad. EBITDA and PAT stand at ₹338 crore and ₹282 crore against ₹471 crore and ₹359 crore, respectively, in 9MFY24. EBITDA and PAT margins at 21.1% and 16.8%, respectively.
Segmental Performance
The Consultancy business continues to provide the highest revenue to the company and achieved the revenue of ₹280 crore with margins at 34.1%. The fall in Consultancy revenue is attributable to the dip in Quality Assurance revenue. Leasing revenue stands at ₹40 crore, maintaining the margins of 35.9%. Turnkey revenue stands at ₹223 crore and no exports were carried out during the quarter.
Dividend
The Board of Directors has declared the third interim dividend of ₹1.9 per share amounting
₹91.31 crore. The record date for the purpose of payment of dividend is February 1, 2025.
Order Book
The company has secured more than 110 orders (including extension of works) worth more than ₹1933 crore in Q3FY25, thereby achieving the highest-ever order book of ₹7978 crore as on December 31st, 2024.
Outlook
On the growth prospects, Mr. Mithal said, “Securing orders of more than ₹1900 crore in just one quarter, which is nearly equal to the orders received in the entire FY24, underscores our strategy to aggressively march ahead, leveraging our multisectoral strength and maintaining our USP of being a ‘1 order a day’ company.”
