RITES eyes high-margin consultancy businesses, hopeful of export orders materialising soon
Published on: Thursday 03 August 2023
RITES Ltd. looks to bid for high-margin consultancy businesses in India and abroad. Export orders from Mozambique and Zimbabwe for rolling stock expected to materialise by FY-end. Profit after tax decreased 26% in Q1FY24 due to Railways reducing rates for quality assurance and inspection tenders. To counter this, the company will push consultancy business, both in India and overseas, with a target to maintain EBITDA margins at 29.6% and PAT at 21-22%.
