RITES Q3 revenue, PAT decline on account of restricted exports

RITES Limited the leading Transport Infrastructure Consultancy and Engineering company, reported the consolidated revenue in Q3FY21 has decreased to Rs480cr as against Rs663cr in Q3FY20 on account of export deliveries not scheduled during this quarter (approx. impact of Rs90cr) and restrictions imposed due to pandemic.

Similarly, operating revenue, excluding other income, stands at Rs449cr in Q3FY21 as against Rs620cr in Q3FY20.

Profit After Tax stood at Rs105cr with a margin of 21.9% against Rs150cr in Q3FY20. EBITDA stands at Rs159cr with a sustained margin of 33.1% against Rs214cr in Q3FY20.

The total revenue on yoy basis in Q3FY21 has decreased by 28.1% to Rs465cr. Similarly, operating revenue, excluding other income, stands at Rs434cr in Q3FY21 against Rs603cr in Q3FY20. If exports are excluded, operating revenue has fallen by 16% on yoybasis. EBITDA and PAT stand at Rs147cr and Rs99cr against Rs198cr and Rs140cr, respectively, in Q3FY20. EBITDA and PAT margins are sustained and stand at 31.7% and 21.3%, respectively.

RITES total consolidated revenue stood at Rs1356cr in 9MFY21 against Rs2120cre in 9MFY20. Similarly, the operational revenue, excluding other income, stood at Rs1224cr in 9MFY21 against Rs1904cr in 9MFY20. EBITDA and PAT stand at Rs452cr and Rs303cr, respectively. 9MFY21 EPS stands at Rs11.85.

The company’s order book stands at Rs6534cr as on December 31, 2020, which provides revenue visibility for two to three years.

Rajeev Mehrotra, Chairman and Managing Director, RITES Limited, said, “Working towards post-pandemic economic growth, the company has maintained its focus on project execution, sustaining margins, and consolidation of order book.”