Q4FY23 results: RITES Ltd's net profit increases by 6.01% on y-o-y basis

New Delhi: State-owned RITES Limited recorded an increase in its net profit from Rs 538.58 crores in FY22 to Rs 570.97 crores in FY23, registering an increase of 6.01 percent on a y-o-y basis. However, its PAT decreased on q-o-q basis from Rs 147.18 crores in Q3FY23 to Rs 138.89 crores in Q4FY23, registering a decline of 5.6 percent.

Revenue from operations

The company's revenue from operations declined from Rs 2,661.83 crores in FY22 to Rs 2,628.27 crores in FY23, registering a decline of 1.26 percent on a y-o-y basis. On a q-o-q basis, the company's revenue from operations increased from Rs 677.34 crores in Q3FY23 to Rs 686.81 crores in Q4FY23, registering an increase of 1.39 percent.

Total expenses

Total expenses of the company decreased from Rs 2,010.90 crores in Q3FY23 to Rs 1,957.07 crores in Q4FY23. However, on a q-o-q basis, the expenses of the company increased from Rs 504.95 crores in Q3FY23 to Rs 514.17 crores in Q4FY23.

Board recommends the final dividend for FY2022-23 @Rs 6 per share

"The Board of Directors has recommended the final dividend for the FY2022-23 at the rate of Rs 6 per share (60 percent of the paid-up share capital) of the company subject to the approval of shareholders in the upcoming Annual General Meeting," said the regulatory filing.

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