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RITES slips after dull Q4 result

Total consolidated revenue rose 22.1% to Rs 2735 crore and profit after tax rose 29.3% to Rs 633 crore in the year ended 31 March 2020 (FY 2020) over FY 2019. The company's order book as on 31 March 2020 was Rs 6223 crore.

Commenting on the results, Rajeev Mehrotra, Chairman and Managing Director, RITES said rolling stock exports remained the company's strategic growth area duly supported with Government of India's Make in India program.

Commenting on the outlook, Mehrotra said that some uncertainties have emerged in recent times due to Covid-19, which may impact the business operations in FY21 but sufficient order book, diversified business segments and opportunities in infrastructure sector at domestic level as well as abroad are expected to help in quick recovery and future business growth.

RITES is a Miniratna (Category – I) Schedule ‘A' Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach.