Reliance Infra net down 27% | business | Hindustan Times
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Reliance Infra net down 27%

business Updated: May 16, 2010 22:43 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Reliance Infrastructure reported a 27 per cent decline in its stand-alone net profit at Rs 251 crore for the quarter ending March 2010, against Rs 346 crore in same quarter last year. A decline of 13 per cent in net sales of electrical energy adversely impacted profitability. The company's net sale of energy declined to Rs 1,268 crore in the quarter ending March this year from Rs 1,452 crore in same quarter in 2009.

"Reduction in cost of electricity purchased during the quarter was one of the major reasons for fall in net sales of electrical energy," explained Lalit Jalan, CEO and whole time director of Reliance Infra. Cost of electrical energy purchased stood at Rs 565 crore in the current quarter against Rs 720 crore last year — a fall of 22 per cent.