Rites Ltd's Q2FY19 standalone net profit rises 59.4% yoy to Rs116.75cr

The company’s standalone revenue stood at Rs433.26cr, up 122% yoy.

Nov 13, 2018 01:11 IST India Infoline Research Team

Rites Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 433.26 122.0
EBITDA 142.74 237.1
EBITDA Margin (%) 33 1,125
Net Profit  116.75 59.4
***EBITDA margin change is bps

Rites Ltd's revenue in 2QFY19 grew by 122% yoy to Rs433.26cr against Rs195.2cr in Q2FY18. EBITDA for the quarter grew by 237.1% yoy to Rs142.74cr against Rs42.35cr. EBITDA margin grew by 1125bps yoy to 33%. Net profit for the quarter grew by 59.4% yoy to Rs116.75cr against Rs73.24cr in corresponding quarter last year.

• Domestic consultancy segment revenue grew by 70% yoy to Rs257.91cr in Q2FY19 as against Rs151.74cr in Q2FY18. Segment EBIT grew by 170.6% yoy to Rs127.39cr in Q2FY19.
• Abroad consultancy segment revenue grew by 326.5% yoy to Rs34.08cr in Q2FY19 against Rs7.99cr. Segment EBIT grew by 467% yoy to Rs25.97cr in Q2FY19.
• Domestic leasing segment revenue grew by 23% yoy to Rs24.41cr against Rs19.84cr in Q2FY18.
• Turnkey construction projects segment revenue grew by 902.8% yoy to Rs116.13cr against Rs11.58cr in Q2FY18.
• Company’s standalone order book stands at Rs6,183cr as of September 30, 2018, which is expected to be executed in the next 1 to 3 years. This order book also includes export order book of Rs1,284cr.
• First consignment of DMU train set for Sri Lanka is being shipped shortly.

Technical View:

Rites Ltd is currently trading at Rs. 292.25, up by 11.8 points or 4.21% from its previous closing of Rs. 280.45 on the BSE.
The scrip opened at Rs. 276.75 and has touched a high and low of Rs. 302 and Rs. 276 respectively. So far 21,81,591 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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