RITES shares rise 4% on Q4 earnings, final dividend 

Shares of RITES Ltd rose 4% on Wednesday after the firm reported its Q4 and fiscal earnings. RITES reported a 3.4% rise in Q4 profit at Rs 141.3 crore against Rs 136.7 crore profit in the March 2024 quarter. Revenue slipped 4.3% to Rs 615.4 crore in the last quarter against Rs 643 Cr on a YoY basis. 

EBITDA climbed 5.4% to Rs 185.5 crore against Rs 176 cr (YoY). EBITDA margins came at 30% in Q4 against 24.36% in the March 2024 quarter. 

Expenses also fell to Rs 447.90 crore in the last quarter against Rs 483.32 crore in the corresponding period of the previous fiscal. 

The board of the firm recommended a Final Dividend of Rs. 2.65/- per share (i.e. 26.50%). 

"Recommended Final Dividend of Rs. 2.65/- per share (i.e. 26.50%) on 48,06,03,774 equity shares of face value of Rs. 10 /- each of the Company for the financial year 2024-25, subject to approval of the same by shareholders in the ensuing 51st Annual General Meeting of the Company," said RITES Ltd.

RITES shares ended 4.40% higher at Rs 243.40 on Wednesday against the previous close of Rs 233.15. Market capitalization of the company climbed to Rs 11,697 crore.

RITES shares have a one-year beta of 1.5, indicating high volatility during the period. 

In terms of technicals, the relative strength index (RSI) of RITES stands at 54.3, signaling it's trading neither in the overbought nor in the oversold zone. RITES shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but lower than the 150 day and 200 day moving averages.

RITES Limited, a subsidiary of Indian Railways, provides engineering services. The company offers transport infrastructure consultancy, railway inspection, rolling stock leasing and maintenance, airport construction management, industrial and electrical engineering, and other related services.