RITES Q3 Review - Outlook Remains Strong: IDBI Capital
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
RITES Ltd. Q3 FY21 profit after tax at Rs 1 billion is 25% lower than our estimate.
Weak result is led by nil exports orders in the quarter versus Rs 900 million YoY and 15% YoY decline in the consultancy revenue.
Post the result we have revised our FY21E revenue/PAT lower by 12%/27%. But maintain FY22E/23E revenue, PAT.
The company has guided for revenue increase of 15% plus in FY22E over FY20 and we have modeled 14% increase over FY20.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.