Reliance Infra March quarter Net dips 14% to Rs 621.42 cr
Reliance Infrastructure on Monday reported a 13.86% year-on-year dip in consolidated net profit at Rs 621.42 crore for the January-March quarter mainly on the back of decline in total income.business Updated: May 19, 2014 18:47 IST
Reliance Infrastructure on Monday reported a 13.86% year-on-year dip in consolidated net profit at Rs 621.42 crore for the January-March quarter mainly on the back of decline in total income.
The company had reported a net profit of Rs 721.44 crore in the fourth quarter of FY'13.
Total operating income of the company during the quarter under review declined by about 24% to Rs 4,707.69 crore against Rs 6,187.35 crore in the year-ago period.
Net sales declined to Rs 3,600.44 crore in the fourth quarter against Rs 3,691.83 crore in the year-ago period.
Income from EPC (Engineering, Procurement and Construction) and contract business plunged 61 per cent to Rs 882.81 crore.
Total expenses, however, declined to Rs 4,159.66 crore from Rs 5,502.76 crore.
For the entire year, the company's net profit rose to Rs 1,913.67 crore from Rs 1,872.37 crore in FY'13. Total income declined to Rs 19,033.68 crore from Rs 22,374.52 crore.
The private sector distributor of power to over 63 lakh consumers said in Mumbai it recovered Rs 498 crore arrears in FY'14 and regained all HT (high tension power supply) consumers who had moved to Tata Power in last 4 years.
About Delhi distribution, it said that DERC has approved Power Purchase Cost Adjustment Surcharge of 7%.
It said its Western Region Strengthening transmission project in Maharashtra is fully commissioned and two transmission lines of 570 kms i.e. Pune-Parli (311 kms) & Pune-Aurangabad (261 kms) in Maharashtra were commissioned during the year.
On generation front, the company said it generated 5,216 million units from all five plants comprising 941 MW in FY14.
It traded 5,190 million units in FY14.
The company said its EPC business had the revenue of Rs 4,710 crore and a order book of Rs 6,615 crore as on March 31, 2014.
The release said road projects earned "revenue of Rs 599 crore in FY14 against Rs 522 crore in the corresponding previous year" and two projects (132 kms) were commissioned in FY14 i.e Jaipur Reengus Toll Road & Trichy Karur Toll Road.
It said 10 out of 11 road projects are revenue generating.
Elaborating about Reliance Metro Line in Mumbai (12 kms &12 stations), the company said all projects are completed and trial runs for the entire Versova-Andheri-Ghatkopar stretch have been completed successfully.
It said final approval for the project was awaited from Indian Railway Board and would start commercial operations within first quarter of FY'15.
The company is operating & developing two plants of five million tonnes (MT) each in Madhya Pradesh and Maharashtra.
Shares of the company closed at Rs 731.75 a piece, up 17.24% from the previous close on the BSE.