RITES Ltd., a leading transport infrastructure consultancy, has signed an MoU with the Centre for Development of Advanced Computing (C-DAC) to enhance IT solutions for consultancy projects. This strategic partnership aims to leverage cutting-edge technologies like e-Governance, cybersecurity, cloud computing, big data analytics, IoT, AI, and ML.
The collaboration will drive innovation in consultancy assignments, focusing on research, education, and digital transformation. As a key initiative, RITES and C-DAC will co-develop the ‘MAITRI’ platform, streamlining trade information digitalisation. This platform will facilitate seamless cargo movement between Indian and Middle Eastern ports, forming the first phase of the international Virtual Trade Corridor.
RITES Q3 FY25 results
RITES Limited reported a 15.7% year-on-year (YoY) decline in revenue for Q3 FY25, standing at ₹575.76 crore, compared to ₹682.89 crore in Q3 FY24. However, revenue showed a sequential improvement from ₹540.86 crore in Q2 FY25. The company’s EBITDA dropped 29.8% YoY to ₹1.18 billion, down from ₹1.68 billion last year. EBITDA margin contracted to 20.49% from 24.70%. Profit after tax (PAT) fell 15.1% YoY to ₹109.39 crore in Q3 FY25, compared to ₹128.78 crore in Q3 FY24. However, it rebounded from ₹82.50 crore in Q2 FY25.
For the nine months ended December 31, 2024, RITES reported revenue of ₹1,602.38 crore, down from ₹1,809.60 crore last year. PAT for the period stood at ₹282.33 crore, compared to ₹358.53 crore in the previous year.
