RITES Q3 Results: Net profit down 15%, revenue declines to ₹576 crore; interim dividend declared

Railway PSU RITES Ltd on Tuesday reported a 15% year-on-year (YoY) decline in its consolidated net profit at ₹109 crore for the third quarter of the current fiscal (Q3 FY25) against ₹129 crore posted in the year-ago period.

“This quarter’s performance reflects our being able to achieve our targeted objective of making steady progress sequentially, improving in all the parameters,” Rahul Mithal, Chairman and Managing Director of RITES Limited said in a company release.

Following the muted quarterly results, RITES stock ended 2.4% down at ₹248.50 apiece on the NSE on Tuesday, January 28.

The company’s revenue from operations fell to ₹575.8 crore, down 15.7% as compared to ₹682.9 crore reported in Q3 FY24.

The state-run railway company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) decreased 30.5% YoY to ₹117.4 crore. Its EBITDA margin was at 24.8%, down 440 basis points from last year.

For the first nine months of the current fiscal, the operating revenue of the company stood at ₹1,602 crore and total revenue was ₹1,685 crore. The EBITDA for this period was ₹338 crore, while the net profit stood at ₹282 crore.

RITES declared an interim dividend of ₹1.9 per share. The record date for the dividend has been set as Saturday, February 1, 2025. The company also declared a bonus issue of shares in the ratio of 1:1 in September 2024.

RITES Limited is a Navratna Public Sector Enterprise engaged in the transport consultancy and engineering sector in the country offering diversified services. With an experience of over five decades, the company has undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and the Middle East region, the release stated.