RITES Q3FY22 revenue up by 64.9 %

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 nine months ended on December 31, 2021.

Commenting on the results, Rahul Mithal, Chairman and Managing Director, RITES Limited, said, “RITES continues to build on the growth momentum with total revenue for the quarter reaching Rs. 792 crore, up by 64.9%, against Q3FY21. Our focus will be to consolidate on this position and follow the mantra — Not just more of the same, but much more of the new.”

The consolidated revenue in Q3FY22 has increased to Rs. 792 crore as against Rs. 480 crore in Q3FY21. Similarly, operating revenue, excluding other income, stood at Rs. 775 crore in Q3FY22, up by 70.6%, as against Rs. 454 crore in Q3FY21. This significant revenue increase is mainly attributed to growth in exports and energy business. Core EBITDA and PAT stood at Rs. 195 crore and Rs. 144 crore against Rs. 133 crore and Rs. 105 crore, respectively, in Q3FY21 with operating margins remaining range bound. The total revenue on YoY basis in Q3FY22 has increased by 66.0% to Rs. 771 crore. Similarly operating revenue, excluding other income, stood at Rs. 755 crore in Q3FY22, up by 71.9% against.