Financial Analysis of RITES Q4 Results – May 2024
RITES, a leading engineering consultancy company, recently announced their Q4 results for the fiscal year 2024. The results showed a decrease in both topline and profit compared to the previous year, with a 6.34% and 4.48% decline respectively. However, there was a slight increase in profit from the previous quarter, showing a 4.96% growth.
The selling, general, and administrative expenses saw a rise of 1.71% quarter-on-quarter but decreased by 5.92% year-on-year. The operating income also showed a positive trend, increasing by 4.2% from the previous quarter but decreasing by 8.32% from the previous year.
The earnings per share (EPS) for Q4 was reported at ₹5.25, reflecting a 4.49% decrease year-on-year. Despite these financial fluctuations, RITES has delivered impressive returns, with a 52.78% return in the last 6 months and a 41.6% year-to-date return.
As of May 29, 2024, analysts have mixed ratings for RITES, with one Sell rating, one Hold rating, one Buy rating, and two Strong Buy ratings. The consensus recommendation as of the same date was to Buy.
With a market cap of ₹17095.08 Cr and a 52-week high/low of ₹825.95 and ₹364.8 respectively, RITES continues to be a significant player in the market. Investors and stakeholders are advised to stay updated on quarterly results with the company’s results calendar for more insights into their financial performance.
