RITES Ltd., a leading transport infrastructure consultancy and engineering firm, announced itsfinancial results for the fourth quarter (Q4FY24) and the full fiscal year 2024 (FY24).
Q4FY24 Financial Highlights:
Total Income: ₹ 917 crore (up 20% YoY)
Net Profit: ₹192 crore (up 13% YoY)
FY24 Financial Highlights:
Total Income: ₹3,151 crore (up 30% YoY)
Net Profit: ₹745 crore (up 27% YoY)
Final Dividend: ₹8 per share
Total Dividend for FY24: ₹16 per share (160%)
Key Points:
Strong Growth: RITES witnessed robust growth in both Q4FY24 and FY24, driven by strong order execution and new order inflows.
Record-Breaking Performance: The company achieved its highest-ever annual order book and operational revenue in FY24.
Diversified Portfolio: RITES' diversified portfolio, including consultancy, exports, and turnkey projects, contributed to its steady growth.
Positive Outlook: The company remains optimistic about its future prospects, given the government's focus on infrastructure development and its strong order book.
Additional Information:
Record high consultancy revenue of Rs. 1,686 crore in FY24 (up 33% YoY).
Exports stood at ₹732 crore in FY24.
Turnkey projects contributed ₹733 crore in FY24.
The order book stood at ₹11,297 crore at the end of March 2024.
The company is actively expanding its global footprint and exploring new opportunities in the infrastructure sector.
For further information and analysis, you can refer to the following resources:
ICICI Direct Analysis: https://www.icicidirect.com/stocks/rites-ltd-share-price
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