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Construction & Engineering company RITES announced Q3FY24 results:
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Q3FY24 Financials (Consolidated):
- Operating Revenue: Rs 683 crore, showing a sequential QoQ growth of 17.3%
- EBITDA: Rs 171 crore, with Margins standing at 25.0%
- PAT: Rs 129 crore, reflecting a sequential QoQ growth of 16.9%
- The quarter ended with a healthy order book of Rs 5,496 crore.
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9MFY24 Financials (Consolidated):
- EBITDA: Rs 471 crore, accompanied by Margins at 26.0%
- PAT: Rs 359 crore, with Margins reaching 19.2%
- Interim Dividends totaling Rs 13/share, resulting in a 96.3% Dividend Payout ratio
Commenting on the results, Rahul Mithal, Chairman and Managing Director, RITES, said, “The sequential progress is in line with the direction that we had strategized in the beginning of the FY, in having received an export order after a long gap, sustained growth in our project consultancy revenue and steady growth in our EBITDA.”
