Anil Dhirubhai Ambani Group (ADAG) company Reliance Infrastructure (RInfra) today reported a 11 per cent increase in net profit at Rs 360 crore, compared to Rs 325 crore in the same quarter last year. Its total income went up two per cent to Rs 4,043 crore from Rs 3,974 crore in the corresponding quarter in the previous year.
The company’s order book for its engineering, procurement and construction (EPC) business stood at Rs 24,000 crore as on September 30. The EPC division, which posted revenues to the tune of Rs 807 crore for the quarter, is working on six power projects of over 7,500 Mw, along with six road projects. The company bagged four orders for road projects during the quarter.
R-Infra’s aggregate revenue from energy sales went down five per cent during the quarter to Rs 1,557 crore. The company’s Mumbai distribution business added over 46,000 new customers in the last two quarters. It claims customer migrations to rival Tata Power have reduced by 75 per cent in the same period.
Revenue from the Mumbai distribution business went down seven per cent during the quarter, even as cost of energy purchased decreased 29 per cent. Revenues from the Delhi distribution business, however, increased seven per cent to Rs 1,814 crore for the quarter. R-Infra’s energy trading division traded 1,582 million units for the quarter, an increase of 131 per cent compared to 685 million in the corresponding quarter of the previous year.
The company’s infrastructure development is implementing projects to the tune of Rs 40,000 crore in such areas as roads, metro rails, transmission projects, sea links, airports and two speciality real estate projects. It claims there would be 12 revenue-generating projects in the current financial year, accounting for a project outlay of Rs 20,000 crore.
The stock went down 1.4 per cent in Friday’s trade to close at Rs 1,047 a share, according to data available on the Bombay Stock Exchange.