RInfra Q1 net profit grows 7 per cent to 439 crore

The company recorded a total income of Rs 7,640 crore during the quarter under review as against Rs 7,644 crore in the previous fiscal.

By: ENS Economic Bureau | Mumbai | Published:September 14, 2016 3:29 am

Reliance Infrastructure (RInfra) has reported a 7.21 per cent rise in its consolidated net profit at Rs 438.80 crore for the quarter ended June as against a net profit of Rs 409.27 crore for the same quarter in 2015-16.

The company recorded a total income of Rs 7,640 crore during the quarter under review as against Rs 7,644 crore in the previous fiscal.

As on June 30, 2016, the consolidated net worth of the company stood at Rs 25,920 crore and is conservatively financed with debt to equity of 1.3x, it said.

The Mumbai distribution unit under its power business recovered Rs 241-crore arrears in Q1 2016-17, totally recovered Rs 2,488 crore to date and added 16,800 new consumers during the quarter.

The company said discussion is in “advanced stage with PSP Investments of Canada for 49 stake sale in Mumbai power business”.

As far as power distribution in Delhi is concerned, it added 46,200 new consumers during the quarter and all projects are commissioned and revenue generating.

Its EPC (engineering, procurement and construction) business has an orderbook of Rs 2,720 crore and earned revenue of Rs 723 crore in April-June.

The company said it is “targetting opportunities worth Rs 2 lakh crore planned by the government across power, roads, railways, defence, ports and mega infrastructure projects” and has already submitted bids worth Rs 15,000 crore in the last three months.