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Published on 13/08/2019 5:04:31 PM | Source: Dion Global Solutions Ltd

Rites Q1 net profit up 12.88% at Rs 92.62 cr

Posted in Stock Market| #Stock Market #Quarterly Result #RITES Ltd

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The company reported standalone net profit of Rs 92.62 crore for the quarter ended June 30, 2019 as compared to Rs 82.05 crore in the same period last year, registering a year-on-year growth of 12.88 per cent. Net revenue of the company rose substantially by 67.47 per cent at Rs 519.22 crore in April-June quarter of this fiscal as against Rs 310.04 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 67.83 per cent to Rs 402.51 crore from Rs 239.83 crore in year ago period.

Other Income dipped by 42.70 per cent at Rs 34.30 crore versus (Jun'18 Rs 59.86 crore). Operating Profit surged by 66.23 per cent to Rs 116.71 crore as against Rs 70.21 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 0.75 per cent in June quarter. Interest grew by 0.00 per cent y-o-y to Rs 0.45 crore, while Taxation increased by 19.56 per cent at Rs 48.42 crore (Jun'18 Rs 40.50 crore).