Rites Q2 FY27 Results: Consolidated Net Profit ₹97.06 Crore on Total Income of ₹583 Crore
- Earnings
- Railway consultancy and infrastructure
Reviewed byRachit TripathiBlacklitt Research
Rites (NSE: RITES) reported total income of ₹582.81 crore and net profit of ₹97.06 crore on a consolidated basis for the quarter ended 30 Sep 2026, and total income of ₹564.76 crore and net profit of ₹94.35 crore standalone, it said in a filing on 04 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹582.81 crore, up 0.7% YoY and 3.9% QoQ
- Net profit: ₹97.06 crore, down 11.0% YoY and 0.7% QoQ; attributable to equity shareholders ₹86.18 crore
- EPS: ₹1.79 basic, against ₹2.04 a year earlier
- Finance costs: ₹0.97 crore, up 27.6% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹564.76 crore, up 0.7% YoY and 7.6% QoQ
- Net profit: ₹94.35 crore, down 7.7% YoY and up 31.4% QoQ
- EPS: ₹1.96 basic, against ₹2.13 a year earlier
- Other income: ₹42.94 crore, down 9.2% YoY and 7.6% of total income
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 582.81 | 578.83 | +0.7% | 560.68 | +3.9% | |
| Revenue from operations | 556.83 | 548.53 | +1.5% | 532.20 | +4.6% |
| Other income | 25.98 | 30.30 | -14.3% | 28.48 | -8.8% |
| 97.06 | 109.10 | -11.0% | 97.78 | -0.7% | |
| Profit before tax | 131.01 | 146.38 | -10.5% | 130.56 | +0.3% |
| Finance costs | 0.97 | 0.76 | +27.6% | 0.83 | +16.9% |
| Depreciation | 17.12 | 17.06 | +0.4% | 16.57 | +3.3% |
| Tax expense | 33.95 | 37.28 | -8.9% | 32.78 | +3.6% |
| Net profit margin | 16.65% | 18.85% | -2.19 pp | 17.44% | -0.79 pp |
| EPS, basic (₹) | 1.79 | 2.04 | -12.3% | 1.81 | -1.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit fell 11.0% year on year while total income rose 0.7%, so profit moved against income. Profit before tax fell 10.5%, and tax expense fell 8.9% to ₹33.95 crore. Other income of ₹25.98 crore was down 14.3% from ₹30.30 crore a year earlier, and it is 19.8% of profit before tax of ₹131.01 crore.
Revenue from operations rose 1.5% to ₹556.83 crore, so the year-on-year fall in other income is the main gap between the two income lines. Finance costs of ₹0.97 crore are small against total income, at 0.2% of it, though they were 27.6% higher than a year earlier.
The consolidated figures include two subsidiaries, REMC Limited (51%) and RITES (Afrika) (Pty) Limited (100%), and two joint ventures, SAIL-RITES Bengal Wagon Industry Private Limited (50%) and Indian Railway Stations Development Corporation Limited (IRSDC) (24%). Consolidated net profit of ₹97.06 crore is ₹2.71 crore higher than standalone net profit of ₹94.35 crore.
The statement records no exceptional items in the quarter or the year. The statement says the company divested its entire equity investment in Elicius Energy Private Limited, an associate, during the quarter, and that the transaction is accounted for in these results; the filing does not give the sale value or any gain from it.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 564.76 | 561.10 | +0.7% | 524.75 | +7.6% | |
| Revenue from operations | 521.82 | 513.79 | +1.6% | 497.99 | +4.8% |
| Other income | 42.94 | 47.31 | -9.2% | 26.76 | +60.5% |
| 94.35 | 102.22 | -7.7% | 71.80 | +31.4% | |
| Profit before tax | 120.65 | 131.85 | -8.5% | 97.13 | +24.2% |
| Finance costs | 0.97 | 0.76 | +27.6% | 0.83 | +16.9% |
| Depreciation | 14.75 | 14.74 | +0.1% | 14.26 | +3.4% |
| Tax expense | 26.30 | 29.63 | -11.2% | 25.33 | +3.8% |
| Net profit margin | 16.71% | 18.22% | -1.51 pp | 13.68% | +3.02 pp |
| EPS, basic (₹) | 1.96 | 2.13 | -8.0% | 1.49 | +31.5% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 7.7% year on year to ₹94.35 crore, while total income rose 0.7% to ₹564.76 crore. Other income fell 9.2% to ₹42.94 crore, and it is 35.6% of standalone profit before tax of ₹120.65 crore. Revenue from operations rose 1.6% to ₹521.82 crore.
Against the previous quarter, standalone net profit rose 31.4% and total income rose 7.6%. Other income rose 60.5% from ₹26.76 crore, so the quarter-on-quarter gain was larger on the other income line than on revenue from operations.
Standalone tax expense of ₹26.30 crore is 21.8% of profit before tax. Depreciation was ₹14.75 crore, almost unchanged from ₹14.74 crore a year earlier. The statement says figures for the previous period have been regrouped or reclassified where necessary.
Inference
The board declared a second interim dividend for FY 2026-27 of ₹1.90 per share, which is 19% of paid-up share capital at a face value of ₹10 per share. The record date is 11 Nov 2026, and payment is due on or before 03 Dec 2026.
The filing says the proposed joint venture with NICC Infrastructure Construction LLC, and the contribution of capital to it, is not materializing, following an intimation dated 25 Jun 2026. The filing does not give the reason.
The company received an interim amount of ₹47.04 crore from the liquidator of IRSDC in July 2026, pending final settlement. The filing does not say when the final settlement amount will be known or paid. The auditor's emphasis of matter draws attention to IRSDC being under voluntary liquidation, and the statement says management does not perceive any impairment in the carrying value of the investment, which the company's 24% share of net worth of ₹60.39 crore supports.
Filed with BSE on . Reference: Original filing (PDF)
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