RITES Q1 net profit up 11.3 pc at Rs 102 cr

State-run transport infrastructure consultancy and engineering firm RITES on Tuesday posted 11.3 per cent rise in consolidated net profit at Rs 102 crore in June quarter.

The company's consolidated net profit stood at Rs 92 crore in June quarter last year, a BSE filing said.

The company's total consolidated revenue rose 46.8 per cent to Rs 573 crore in June quarter this year from Rs 390 crore in corresponding quarter last year, RITES said in a statement.

The company said that its earning per share increased 12.6 per cent to Rs 4.90 in June quarter as compared to Rs 4.35 a year ago.

The consultancy business continued to provide highest revenue of Rs 233 crore with a growth of 11 per cent in June quarter compared to year ago.

Leasing business grew 24.4 per cent with revenue of Rs 29 crore in June quarter compared with Rs 23 crore a year ago.

Revenue from exports stood at Rs 129 crore during the quarter under review compared with Rs 1 crore a year ago. The revenue from turnkey construction projects also increased 68.6 per cent to Rs 128 crore in June quarter.

The gross order inflow was Rs 473 crore during April-June, taking the total order book backlog to Rs 6,052 crore.

"...RITES has continued its growth journey in the first quarter of 2019-20. All four segments have shown continuous growth in revenue, profitability and as a result, we have been able to maintain healthy sustainable margins," Chairman and Managing Director Rajeev Mehrotra said.

Shares of RITES settled at Rs 233.80 on the BSE, down 2.58 per cent from the previous close.