Reliance Infra Q3 Net Rises Over 2% to Rs 463 Crore


New Delhi: Reliance Infrastructure Ltd (RInfra) on Wednesday reported a 2.27 per cent rise in consolidated net profit at Rs 462.67 crore for the December quarter.

The company had registered a consolidated net profit of Rs 452.37 crore for the corresponding period a year ago, it said in a filing to the BSE.

The total operating income (net) declined to Rs 3,932.51 crore as against Rs 4,371.41 crore in the year-ago period.

A company statement said that in the October-December period, the company had a total income of “Rs 4,395 crore ($664 million) as against Rs 4,788 crore in the third quarter of last fiscal”.

The company reported a “net profit of Rs 463 crore ($70 million) as against Rs 452 crore in the third quarter of FY15, an increase of 2 per cent, in spite of Mumbai Metro and Cement loss of Rs 49 crore and Rs 44 crore, respectively”, it said.

As on December 31, 2015, the consolidated net worth of the company stood at Rs 28,202 crore and “is conservatively financed with debt to equity of 1.0x”.

The company said it “generated 985 million units in the third quarter of the FY16 from Dahanu Thermal Power Station”.

Asserting that all 11 road projects of Rs 1,000 kms are now revenue generating, the company said that it plans to “monetise the entire road portfolio-Due diligence process is in advanced stage”.

Talking about its defence manufacturing business, the company said, “RInfra acquires management control of Pipavav Defence and Offshore Engineering Company Ltd”, and added that it is in “discussion with leading international defence majors to capitalise growth opportunities under” government’s ‘Make-in-India’ programme.

RInfra is one of the leading infrastructure companies, developing projects through various special purpose vehicles in several high growth sectors within the infrastructure space such as power, roads, metro rail, cement and defence.

It is also a leading utility company having presence across the value chain of power businesses i.e. generation, transmission, distribution and power trading. The company also provides engineering, procurement and construction services for developing power and road projects.

The company has recently entered into the defence sector.