RITES Ltd Q4 net profit flat at Rs137.73cr as higher export input costs offset by inventory gains

RITES Ltd reported 11.42% yoy rise in consolidated net revenues for the Mar-21 quarter at Rs635.87cr

Jun 17, 2021 12:06 IST India Infoline News Service

RITES
RITES Ltd reported 11.42% yoy rise in consolidated net revenues for the Mar-21 quarter at Rs635.87cr. On a sequential basis, net sales revenues were up 41.53% compared to total revenues in the Dec-20 quarter at Rs449.29cr.

Full year revenues for FY21 were -25% lower at Rs1,860cr on COVID impact. Despite the full year lockdown impact, RITES saw flat to positive growth in consultancy projects in India and abroad. The big boost to revenues in the quarter came from export sales and turnkey construction contracts executed domestically.

Net profits in the Mar-21 were flat -0.92% to Rs137.73cr. while the cost of export products went up sharply in the quarter, this was compensated by inventory efficiency gains. RITES also saw a positive EBITDA growth in export sales and turnkey constructions while the EBITDA on domestic and international consultancy were lower yoy.

Net margins at 21.66% in the Mar-21 quarter was lower than 24.36% in the Mar-20 quarter as well as a tad lower than 22.77% in the sequential Dec-20 quarter. The company has declared a final dividend of Rs.4 per share on top of 2 interim dividends of Rs.9 per share.


Financial highlights for Mar-21 compared yoy and sequentially


RITES Ltd
Rs in Crore Mar-21 Mar-20 YOY Dec-20 QOQ
Total Income (Rs cr) ₹ 635.87 ₹ 570.70 11.42% ₹ 449.29 41.53%
Net Profit (Rs cr) ₹ 137.73 ₹ 139.01 -0.92% ₹ 102.32 34.61%
Diluted EPS (Rs) ₹ 5.73 ₹ 5.56 ₹ 4.17
Net Margins 21.66% 24.36% 22.77%

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