RITES, a prominent Transport Infrastructure Consultancy and Engineering firm, has disclosed its standalone and consolidated financial results for the first quarter of FY24. During this period, the company experienced a 10% decline in operating revenue on a consolidated level, reaching 544 crore.
The total revenue also saw a decrease, falling from 637 crore in Q1FY23 to 563 crore in Q1FY24. The EBITDA and PAT stood at 161 crore and 120 crore, respectively, maintaining stable margins of 29.6% and 21.3%. This dip in income can be attributed to reduced exports and lower revenue from quality assurance services.
