RITES Q3 Review - Outlook Remains Strong: IDBI Capital
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RITES Q3 Review - Outlook Remains Strong: IDBI Capital

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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:

IDBI Capital RITES Q3FY21 Result Update.pdf

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