Rites report Rs 140 crore profit in Q3FY20

Rites reported its third quarter result of FY20 today, in which, its revenue from operations increased by nearly 16 per cent, YoY to Rs 602.6 crore in the quarter. This growth was mainly driven by strong 72 per cent YoY growth in Turnkey construction projects, which accounted for almost 33 per cent of the overall revenue. Revenue from consultancy business (domestic) remained largely flat at Rs 266 crore.

EBITDA for Q3FY20 grew by nearly six per cent YoY to Rs 154.7 crore with a corresponding margin contraction of nearly 230 bps while, EBITDA margin for the quarter was at 25.7 per cent. This was mainly on account of a higher share of low margin Turnkey projects.

Profit after Tax (PAT) in Q3FY20 increased 14 per cent YoY to Rs 139.7 crore.

The board of directors of the company has declared an interim dividend of Rs 4.00 per share. Further, the board of directors have fixed February 18, 2020 (Tuesday) as the record date for the purpose of dividend payment