For the half year ended Sep 18, net sales were up by 41% to Rs 743.30 crore. OPM was up by 580 bps to 29.1% thus resulting in a 77% increase in OP to Rs 216.52 crore. Other income was up by 8% to Rs 96.60 crore. After providing depreciation of Rs 15.46 crore and interest of Rs 90 lakh, PBT stood at Rs 296.76 crore up by 52% YoY. After providing total tax of Rs 97.96 crore, up by 84% YoY, PAT for H1 ended Sep 18 stood at Rs 198.80 crore up by 40% YoY.

Commenting on the results, Mr. Rajeev Mehrotra, Chairman and Managing Director, RITES Limited said,

"I am pleased to announce that the company has recorded total income of Rs 473 crore in the Q2 FY19, up by 93% over Q2 FY18. The increase was mainly contributed by increased consultancy and turnkey business which has grown by Rs 132 crore and Rs 104 crore respectively. Domestic leasing business has also grown by 23%."

EBITDA and PAT have gone up by 99% and 59% to Rs 182 crore and Rs 117 crore respectively. The increase in profits can be attributed to growth in consultancy, domestic leasing and turnkey business. Company has improved upon EBITDA margins to 38.5% as against 37.4% in corresponding period of last financial year. Employee cost has almost remained constant as compared to the corresponding period of last financial year and enhanced employee productivity helped to increase margins.

Consultancy business has contributed about 67% of the operating turnover and income from the consultancy has increased by 83% to Rs 292 crore in Q2 FY19 against the corresponding last quarter revenue of Rs 160 crore.

Income from construction projects has increased significantly by Rs 104 crore and registered at Rs 116 crore in Q2 FY19 as against Rs 12 crore in Q2 FY18.

Company's standalone Order Book stands at Rs 6183 crore as of 30.09.2018 which is expected to be executed in the next 1 to 3 years. This order book also includes export order book of Rs 1284 crore as on 30.09.2018. The present export order book is likely to be executed in 2 to 2.5 years time. As per delivery schedule Company will start exporting in the second half of FY19.

Further commenting on outlook for the FY19, he reiterated that "Based on the order book and half yearly performance of the company, I expect, company will achieve targeted 22% operating revenue growth over last year. I am pleased to announce that First consignment of DMU train set for Sri Lanka is being shipped shortly. Also, one prototype locomotive from DLW is on the way for shipment to Sri Lanka."

The board also approved in principle, investment of Rs. 50 crore in equity capital of Indian Railway Stations Development Corporation Ltd., a company promoted by IRCON and Rail Land Development Authority. The company plans to provide engineering services for station development projects.