RITES announced an increase in its order book as it announced its Q2 results.

What Happened: The order book increased by 3.55% to ₹6,581 crore from the order book in the June quarter where the company had ₹6,355 crore. It also increased 15.65% from ₹5,690 crore order book in the March quarter.

RITES said it secured more than 90 orders which includes extension of work worth 729 crore in Q2 FY25. "The confidence in our ability to leverage our strength reflects in our growing order book, maintaining a rate of ‘1 order a day' and securing in this quarter, orders worth more than the entire H1 of last FY," Rahul Mithal, chairman and managing director of RITES said.

See Also: Hindalco Slumps As Analysts See 15% Downside After Major U.S. Subsidiary’s Poor Q2 Results, Outlook

In its Q2 results, RITES’ net profit declined 25.11% from the previous year to ₹82.5 crore. The company’s operational revenue declined 7.12% to ₹540.86 crore. The company reported an EBITDA of ₹107 crore with a margin of 19.9%.

The consultancy business segment contributed a revenue of ₹272 crore with a 29.6% margin. Leasing revenue was at ₹35 crore with a 31.9% margin. Turnkey revenue was at ₹201 crore with no exports being carried out, the company said.

The company also declared a second interim dividend of ₹1.75 per share. It has set November 15 as the record date for the payout.

Price Action: Shares of RITES fell 1.37% to ₹291.15 on Thursday morning.

Read Next: BSE, Voltas Included In MSCI Global Index, HDFC Bank Weightage To Climb