Rites Q4 net profit down 3.48% at Rs 129.88 cr
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The company reported standalone net profit of Rs 129.88 crore for the quarter ended March 31, 2022 as compared to Rs 134.56 crore in the same period last year, registering a year-on-year decline of 3.48 per cent. Net revenue of the company rose substantially by 20.25 per cent at Rs 744.16 crore in January-March quarter of this fiscal as against Rs 618.86 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 24.76 per cent to Rs 557.36 crore from Rs 446.75 crore in year ago period.
Other Income grew by 51.40 per cent at Rs 20.53 crore versus (Mar'21 Rs 13.56 crore). Operating Profit surged by 8.54 per cent to Rs 186.80 crore as against Rs 172.11 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 9.74 per cent in March quarter. Interest grew by 274.29 per cent y-o-y to Rs 1.31 crore, while Taxation increased by 36.98 per cent at Rs 53.49 crore (Mar'21 Rs 39.05 crore).
