RITES Q4 Results: Profit Decreases by 4.48% Year Over Year

RITES, a leading engineering consultancy company, recently announced their Q4 results for the fiscal year 2024. The results, declared on 28 May, revealed a decrease in both topline and profit compared to the previous year. The revenue declined by 6.34% year-on-year, while the profit saw a 4.48% decrease.

Despite the yearly decrease, there was a positive trend in the quarterly performance. The revenue declined by 5.8% from the previous quarter, while the profit increased by 4.96%. The operating income also showed improvement, with a 4.2% increase quarter-on-quarter, although it decreased by 8.32% year-on-year.

The earnings per share (EPS) for Q4 stood at ₹5.25, reflecting a 4.49% decrease from the previous year. RITES also reported a -3.82% return in the last week, with significant returns of 52.78% in the last 6 months and 41.6% year-to-date.

As of 29 May, 2024, analysts covering the company had varying recommendations, with one analyst giving a Sell rating, one a Hold rating, one a Buy rating, and two a Strong Buy rating. The overall consensus recommendation was to Buy.

With a market cap of ₹17095.08 Cr and a 52-week high/low of ₹825.95 & ₹364.8 respectively, RITES continues to be a key player in the engineering consultancy sector. Stay updated on their quarterly results and market performance for valuable insights into the company’s financial health and future prospects.