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Reliance Infrastructure Q4 profit at Rs40.94 crore

LiveMint logoLiveMint 15-04-2017 PTI

New Delhi: Reliance Infrastructure Ltd on Saturday reported a net profit of Rs40.94 crore for the quarter ended 31 March. The company had recorded a consolidated net loss of Rs327.41 crore during the January-March quarter in 2015-16, Reliance Infrastructure said in a BSE filing.

According to the statement, total income of the company was recorded at Rs6,145 crore in the quarter against Rs6,910 crore in the year-ago period. The company’s consolidated net profit for 2016-17 rose to Rs1,425.18 crore as compared to Rs759.63 crore in 2015-16. The total income in the fiscal under review was Rs28,222 crore against Rs28,462 crore in 2015-16.

Its engineering procurement and construction order book stood at Rs5,960 crore and earned a revenue of Rs2,492 crore in the last fiscal from this business. The company won EPC contract for setting up 2 x 250 MW thermal power plants worth Rs3,675 crore in Rajasthan from Neyveli Lignite Corporation Ltd. It also bagged EPC contract to build 66km road project worth Rs711 crore in Tamil Nadu. All its 11 road projects of Rs4,370 lane km are now revenue generating , it said.

The company said the arbitration award won for 2 road projects—NK Toll Road and DS Toll Road—was worth Rs170 crore. Besides, over Rs14,000 crore is under advanced stage of arbitration. Reliance Infrastructure develop projects through various special purpose vehicles in several high growth areas such as power, roads and metro rail in the infrastructure space and the defence sector. The company’s board has recommended a dividend of Rs9 per share. Its share prices closed at Rs556.50 a piece, down 0.47% on the BSE.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.

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