New Delhi: RITES Ltd. (NSE: RITES, BSE: 541556), the main Transport Infrastructure Consultancy and Engineering firm, reported its standalone and consolidated monetary outcomes for the Quarter and Nine Months ended on thirty first December, 2020.
Highlights for Q3FY21 Consolidated Financials
Total Revenue stands at Rs 480 crore in opposition to Rs 663 crore in Q3FY20 EBITDA stands at Rs 159 crore with sustained margin of 33.1% in opposition to Rs 214 crore in Q3FY20 Profit After Tax stands at Rs 105 crore with margin of 21.9% in opposition to Rs 150 crore in Q3FY20
Highlights for Q3FY21 Standalone Financials
Total Revenue stands at Rs 465 crore in opposition to Rs 646 crore in Q3FY20 EBITDA stands at Rs 147 crore with margin of 31.7% in opposition to Rs 198 crore in Q3FY20 Profit After Tax stands at Rs 99 crore with margin of 21.3% in opposition to Rs 140 crore in Q3FY20 Revenue from operations has elevated to Rs 434 crore from Rs 422 crore in Q2FY21
Commenting on the outcomes, Mr. Rajeev Mehrotra, Chairman and Managing Director, RITES Limited, stated, “Working towards post-pandemic economic growth, the company has maintained its focus on project execution, sustaining margins, and consolidation of order book.”
Revenue and Profit for Q3FY21
Consolidated
The consolidated income in Q3FY21 has decreased to Rs 480 crore as in opposition to Rs 663 crore in Q3FY20 on account of export deliveries not scheduled throughout this quarter (approx. affect of Rs 90 crore) and restrictions imposed resulting from pandemic. Similarly, working income, excluding different revenue, stands at Rs 449 crore in Q3FY21 as in opposition to Rs 620 crore in Q3FY20. EBITDA and PAT stand at Rs 159 crore and Rs 105 crore in opposition to Rs 214 crore and Rs 150 crore, respectively, in Q3FY20. EBITDA and PAT margins are sustained and stand at 33.1% and 21.9%, respectively.
Standalone
The whole income on YoY foundation in Q3FY21 has decreased by 28.1% to `465 crore. Similarly, working income, excluding different revenue, stands at Rs 434 crore in Q3FY21 in opposition to Rs 603 crore in Q3FY20. If exports are excluded, working income has fallen by 16% on YoY foundation. EBITDA and PAT stand at Rs 147 crore and Rs 99 crore in opposition to Rs 198 crore and Rs 140 crore, respectively, in Q3FY20. EBITDA and PAT margins are sustained and stand at 31.7% and 21.3%, respectively.
Performance of standalone segments
Company achieved a income of Rs 244 crore from consultancy enterprise which is down by 14.3% over Q3FY20, with margins remaining 45.5% as in opposition to 46.5% in Q3FY20.
The income from leasing enterprise stands at Rs 29 crore in Q3FY21 as in opposition to Rs 30 crore in Q3FY20. The leasing revenue has virtually reached to pre-Covid stage with margin of 39.8% as in opposition to 34.0% in Q3FY20.
There had been no export deliveries scheduled for Q3FY21, nevertheless, Q4FY21 is anticipated to see export shipments to Sri Lanka and Mozambique.Turnkey income throughout Q3FY21 stands at Rs 159 crore down by 19.2% in opposition to Rs 196 crore in Q3FY20. Turnkey margins are maintained at 3.0% as in opposition to 3.1% in Q3FY20.
Performance of 9MFY21
RITES whole consolidated income stands at Rs 1356 crore in 9MFY21 in opposition to Rs 2120 crore in 9MFY20. Similarly, the operational income, excluding different revenue, stands at Rs 1224 crore in 9MFY21 in opposition to `1904 crore in 9MFY20. EBITDA and PAT stand at Rs 452 crore and Rs 303 crore, respectively. 9MFY21 EPS stands at Rs 11.85.
Order Book
The firm’s order e book stands at Rs 6534 crore as on December thirty first 2020, which offers income visibility for 2 to a few years.
Further commenting on outlook, Mr. Mehrotra stated, “The emphasis on infrastructure development in the Union Budget 2021-22, National Rail Plan and National Infrastructure Pipeline will help drive the growth of the sector, thus providing us opportunities to achieve double-digit growth in FY22 and beyond.”
About RITES Limited:
RITES Limited is a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise and a number one participant within the transport consultancy and engineering sector in India, having diversified companies and geographical attain. Company has an expertise spanning 46 years and has undertaken tasks in over 55 nations throughout Asia, Africa, Latin America, South America and Middle East area. RITES Limited is the one export arm of Indian Railways for offering rolling inventory abroad (aside from Thailand, Malaysia and Indonesia).