RITES Limited , a leading transport infrastructure consultancy and engineering firm, has announced its financial results for the first quarter, showcasing robust performance and a healthy order book. The company has also set an ambitious target to secure more than one order per day as part of its growth strategy.

Financial Highlights

For Q1, RITES reported consolidated revenue from operations of ₹489.74 crore, marking a slight increase from ₹485.76 crore in the corresponding quarter of the previous year. The company's profit after tax (PAT) stood at ₹90.89 crore, showing a marginal improvement from ₹90.44 crore in the same period last year.

Strong Order Book

One of the key highlights of RITES' performance is its substantial order book, which stands at ₹8,790.00 crore as of June 30. This impressive figure underscores the company's strong market position and provides long-term revenue visibility.

Business Segment Performance

RITES has reported growth in its consultancy and leasing business segments:

Consultancy Segment

• Remains the highest revenue contributor
• Achieved a revenue of ₹262.00 crore
• Maintained robust margins of 32.20%

Leasing Segment

• Generated a revenue of ₹43.00 crore
• Maintained healthy margins of 38.40%
• Operates a fleet of 88 locomotives

Export Momentum

The company is maintaining export momentum, which is expected to provide long-term revenue visibility and support its overall growth trajectory. Notably, the export of locomotives to Mozambique has commenced in Q2, indicating positive developments in the company's international business.

Management Commentary

Mr. Rahul Mithal, Chairman and Managing Director of RITES Limited, commented on the results, stating, "The results have been flat, underscoring the need for expeditious execution, with our Order Book being young; having secured about 300 orders totalling to ₹3,500.00 crore in the last 2 quarters."

Growth Strategy

A RITES company executive outlined the organization's goal to secure more than one order per day as part of its growth strategy. This target represents a significant improvement compared to the previous year's performance and aligns with the company's ambition for substantial growth.

Dividend Declaration

The Board of Directors has declared an interim dividend of ₹1.30 per share, amounting to ₹62.50 crore. The record date for dividend payment is set as August 12.

Future Outlook

Looking ahead, Mr. Mithal expressed optimism about the company's growth prospects, saying, "While maintaining the trend of now more than 1 order a day, concerted efforts will be made for steady sequential growth, aiming for a substantial improvement over last year."

RITES' strong order book, growth in key business segments, focus on export opportunities, and ambitious order acquisition target position the company well for future growth in the infrastructure and engineering consulting sector.

RITES Ltd , a leading transport infrastructure consultancy and engineering company, has reported its financial results for the quarter ended June 30. The company saw improvements in its financial performance and declared an interim dividend.

Financial Highlights

On a standalone basis, RITES posted revenue from operations of ₹455.73 crore and a net profit after tax of ₹66.65 crore. The consolidated figures show revenue from operations at ₹489.74 crore and a net profit after tax of ₹90.89 crore.

Dividend Declaration

The Board of Directors has declared a first interim dividend of ₹1.30 per share (13% of paid-up share capital). The record date for the purpose of payment of this interim dividend is set for August 12.

New Appointment

The Board has appointed M/s Agarwal S. & Associates as Secretarial Auditor for a period of five years, subject to shareholder approval.

Earnings Per Share

RITES reported basic earnings per share of ₹1.39 on a standalone basis and ₹1.67 on a consolidated basis.

Future Outlook

RITES continues to leverage its expertise in transport infrastructure consultancy and engineering to drive growth. The company's financial performance and dividend declaration suggest a positive outlook for its operations.