Consolidated EBITDA declined 7.0% to Rs 191 crore in Q4 FY23 as against Rs 206 crore in Q4 FY22. However, EBITDA margin improved to 27.8% in Q4 FY23 as compared with 26.8% reported in the same quarter previous year.

During the quarter, total expenditure fell 12.55% to Rs 514.17 crore in Q4 FY23 over Q4 FY22. Employee benefits expense was Rs 135.65 crore (up 1.76% YoY) while purchases for export stood at Rs 13.71 (down 75.03% YoY).

Consultancy business continues to provide the highest revenue to the company and achieved the revenue of Rs 341 crore, up by 8.1%. Leasing revenue remained flat at Rs 33 crore in Q4FY23, with margins of 28.8%. Turnkey revenue stands at Rs 230 crore with a jump of 58.5% on account of a smooth pick-up in execution. At Rs 55 crore, the export segment has shown a dip of 77.9% in Q4FY23.

During the Q4FY23, the company has secured more than 70 orders (including extension of works) worth more than Rs 775 crore, thereby maintaining a healthy order book of Rs 5,870 crore as on 31 March 2023.

On the growth prospects, Mithal said, “Our strength in consultancy in all sectors of infrastructure was amply reaffirmed by the fact that about 200 fresh orders were received during the year and also, International Consultancy grew by more than 50%, which is an all-time high. We would capitalise on this momentum and continue to raise the bar in the coming FY.”

On full year basis, the company's net profit jumped 5% to Rs 542.04 crore despite of 1.3% fall in net sales to Rs 2,628.27 crore in FY23 over FY22.

Meanwhile the board has recommended a dividend of Rs 6 per share for FY23, subject to approval of shareholders.

RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2023, the Government of India held 72.2% stake in the company.