Q1FY22 Result Announced for Rites Ltd.
Highlights for Q1FY22 Consolidated Financials: RITES Q1 FY22 PAT up by 19.8% RITES declares Interim Dividend of Rs 2 per share Total Revenue stands at Rs 377 crore against Rs 379 crore in Q1FY21 Operating Revenue stands at Rs 355 crore against Rs 335 crore in Q1FY21 up by 5.7% EBITDA stands at Rs 97 crore against Rs 60 crore in Q1FY21, up by 61.7% Profit After Tax stands at Rs 78 crore against Rs 65 crore in Q1FY21, up by 19.8% Highest ever order book of Rs 6925 crore Highlights for Q1FY22 Standalone Financials: Total Revenue stands at Rs 359 crore against Rs 366 crore in Q1FY21 Operating Revenue stands at Rs 332 crore against Rs 323 crore in Q1FY21 up by 3.0% EBITDA stands at Rs 78 crore against Rs 51 crore in Q1FY21, up by 52.5% Profit After Tax stands at Rs 71 crore against Rs 60 crore in Q1FY21, up by 17.2% Declares Interim Dividend of Rs 2 per share RITES operating revenue, excluding other income, is up by 5.7% at Rs 355 crore in Q1FY22 as against Rs 335 crore in Q1FY21. Revenue growth impacted mainly because of disruption caused by 2nd wave of covid, spill-over of exports shipments and 1st phase of turnkey projects getting substantially completed in FY21. Total revenue has remained flat at Rs 377 crore as against Rs 379 crore in Q1FY21. Slight decrease in total revenue can be attributed to decrease in other income on account of decrease in interest income and reversal of provision in Q1FY21. EBITDA and PAT stand at Rs 97 crore and Rs 78 crore against Rs 60 crore and Rs 65 crore, up by 61.6% and 19.8% respectively, in Q1FY21. EBITDA and PAT margins were improved over Q1FY21 and stand at 27.3% and 20.6%, respectively. Commenting on the results, Shri Gopi Sureshkumar Varadarajan, Director Projects and Chairman & Managing Director (Addl. Charge), RITES Limited, said, “Q1FY22 performance reflects that the company’s sustainable and well-diversified business model held it in good stead in managing short-term challenges. I am pleased that we have been able to increase our profits and sustain margins, despite the disruptions caused by the 2nd wave of Covid.” Result PDF12-08-2021
