RITES Ltd. emerged as the lowest bidder in DMRC’s RS-1 trains retrofit tender, securing a share worth Rs. 36.36 crore for a three-year contract. Alongside, RITES reported a 16.5% revenue growth in Q2FY25 and a robust Rs. 6,581 crore order book, highlighting its continued dominance in transport infrastructure projects.
Key Financial Highlights for Q2FY25:
- Standalone revenue surged by 16.5%, from ₹475 crore to ₹554 crore.
- Order book remains strong at ₹6,581 crore with 90+ orders worth ₹729 crore secured in Q2, sustaining RITES’ ‘one order a day’ milestone.
- A second interim dividend of ₹1.75 per share was announced, maintaining a 97.9% payout ratio.
Q2FY25 Consolidated Financials:
- Operating revenue at ₹541 crore.
- EBITDA reached ₹107 crore, yielding a margin of 19.9%.
- Profit After Tax (PAT) stood at ₹83 crore, down from ₹110 crore in Q2FY24.
H1FY25 Consolidated Financials:
- Total revenue for H1FY25 amounted to ₹1,070 crore, compared to ₹1,171 crore in H1FY24.
- EBITDA totaled ₹215 crore, with margins at 21.0%.
- PAT was recorded at ₹173 crore, down from ₹230 crore in H1FY24.
CMD Stated:
Mr. Rahul Mithal, Chairman and Managing Director, RITES Limited, said, “Our performance is in line with our aim to be improving sequentially and trying to reach levels of the previous FY, navigating the evolving business scenario.” The confidence in our ability to leverage our strength reflects in our growing order book, maintaining a rate of ‘1 order a day’ and securing in this quarter, orders worth more than the entire H1 of last FY.
Conclusion:
RITES Ltd.’s recent contract win with DMRC, coupled with strong financial performance, underscores its position as a key player in infrastructure and transport consultancy. With a growing order book and consistent dividends, RITES continues to build momentum in delivering value across major transport projects in India.
Source: RITES – Press Release | Image Credit (representational): RITES
