For the 9 mths ended Dec 18, net sales were up by 41% to Rs 1254.65 crore. OPM was down by 170 bps to 27.9% thus resulting in a 32% increase in OP to Rs 349.60 crore. Other income was up by 18% to Rs 147.68 crore. After providing depreciation of Rs 23.73 crore and interest of Rs 1.28 crore, PBT stood at Rs 472.27 crore up by 30% YoY. After providing total tax of Rs 159.44 crore, up by 46% YoY, PAT for 9 mths ended Dec 18 stood at Rs 312.83 crore up by 23% YoY.

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

"I am pleased to announce that with strong focus on execution of projects, the company has recorded total revenue of Rs 562 crore in the Q3' FY19, up by 42.6%over Q3' FY18 and total revenue of Rs 1402 crore in 9 month ending 31^St December 2018, up by 38.2%YoY basis. Further, I am pleased to announce that RITES"supplied 1^St set of DMU and locomotive to SriLanka Railways in Q3' FY19. Since DMU set has been successfully tested, supply of further lots is expected to take place in Q4 FY19 and onwards."

The increase in profits can be attributed to growth in exports, leasing and turnkey business. Company has been able to maintain good EBITDA and PAT margin of 32.7% and 21.0%respectively despite the increase in turnkey business revenue.

Company's standalone Order Book stands at Rs 6054 crore as of 31.12.2018 which is expected to be executed in the next 1 to 3 years. Further commenting on outlook for the FY19, he reiterated that "Based on the order book and 9 months performance of the company, I firmly believe that company will achieve the MoU target of 22% operating revenue growth over last year."