Rites Q1 net profit jumps 83.40% at Rs 129.26 cr
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The company reported standalone net profit of Rs 129.26 crore for the quarter ended June 30, 2022 as compared to Rs 70.48 crore in the same period last year, registering a year-on-year growth of 83.40 per cent. Net revenue of the company rose substantially by 74.13 per cent at Rs 578.33 crore in April-June quarter of this fiscal as against Rs 332.13 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 66.00 per cent to Rs 422.14 crore from Rs 254.30 crore in year ago period.
Other Income grew by 16.95 per cent at Rs 31.40 crore versus (Jun'21 Rs 26.85 crore). Operating Profit surged by 100.68 per cent to Rs 156.19 crore as against Rs 77.83 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 15.28 per cent in June quarter. Interest grew by 353.85 per cent y-o-y to Rs 1.18 crore, while Taxation increased by 95.76 per cent at Rs 44.32 crore (Jun'21 Rs 22.64 crore).
