RITES Ltd, the leading Transport Infrastructure Consultancy and Engineering company, reported its standalone and consolidated financial results for the Quarter and Half Year ended on 30th September, 2020.
Total Revenue stands at Rs 500 crore against Rs 888 crore in Q2FY20. while Q2FY21 revenue increased by 33% over Q1FY21 showing strong recovery
EBITDA stands at Rs 189 crore with sustained margin of 37.9% against Rs 339 crore in Q2FY20
Profit After Tax stands at Rs 132 crore with margin of 26.5% against Rs 237 crore in Q2FY20
Order Book at new high of Rs 6661 crore with order inflow of Rs 948 crore in Q2FY21
Total Revenue stands at Rs 488 crore against Rs 874 crore in Q2FY20
EBITDA stands at Rs 183 crore with sustained margin of 37.4% against Rs 328 crore in Q2FY20
Profit After Tax stands at Rs 131 crore with margin of 26.8% against Rs 233 crore in Q2FY20
Commenting on the results, Mr. Rajeev Mehrotra, Chairman and Managing Director, RITES Limited, said, "Despite current scenario, Q2FY21 revenue has increased by 33% over the previous quarter. The company continued to focus on project execution, order book consolidation and sustaining margins."
Revenue and Profit for Q2FY21
The consolidated revenue in Q2FY21 has decreased to Rs 500 crore as against Rs 888 crore in Q2FY20 mainly on account of export deliveries not scheduled during this quarter and final settlement amount of Rs 91 crore from a foreign client during Q2FY20.
Similarly, operating revenue, excluding other income, stands at Rs 439 crore in Q2FY21 as against Rs 746 crore in Q2FY20. EBITDA and PAT stand at Rs 189 crore and Rs 132 crore against Rs 339 crore and Rs 237 crore, respectively, in Q2FY20. EBITDA and PAT margins are sustained and stand at 37.9% and 26.5%, respectively due to expeditious execution and timely implementation of cost control measures.
The total revenue on YoY basis in Q2FY21 has decreased by 44.1% to Rs 488 crore. Similarly, operating revenue, excluding other income, stands at Rs 422 crore in Q2FY21 against Rs 726 crore in Q2FY20. If exports are excluded, operating revenue has fallen by 9% on YoY basis.
EBITDA and PAT stand at Rs 183 crore and Rs 131 crore against Rs 328 crore and Rs 233 crore, respectively, in Q2FY20. EBITDA and PAT margins are sustained and stand at 37.4% and 26.8%, respectively.