Reliance Infrastructure (R-Infra) today saw its consolidated net profit jump by 49 per cent to Rs 375 crore for the quarter to December 2016.
The Anil Ambani-led infrastructure major had clocked a net profit of Rs 251.50 crore in the same quarter of 2015-16.
Its total operating income during the quarter under review stood at Rs 5,815.69 crore as against Rs 6,199.48 crore.
Also Read
Total expenditure increased to Rs 5,775.23 crore during the period as against the earlier Rs 5,407.82 crore.
"As on December 31, 2016, the consolidated net worth of the company stood at Rs 31,616 crore with debt to equity of 0.93x," R-Infra said in a statement.
About its power business, it said Mumbai distribution recovered Rs 231 crore arrears in the third quarter of 2016-17 with a total recovery of Rs 2,926 crore till date.
R-Infra said it has added 16,400 new consumers in the December quarter with the number of total consumers reaching the 29.7 lakh mark.
The company said, "Discussions are in advanced stage with PSP Investments of Canada for 49 per cent stake sale in Mumbai power business."
On Delhi distribution, it said it has added 45,000 new consumers in the quarter with the total number of consumers coming in at 38.8 lakh and activated over 200 rooftop solar net metering connections with sanctioned load of 7,000 kw.
The company has executed a share purchase agreement with Adani Transmission Ltd for 100 per cent sale of WRSSS transmission assets and Parbati Koldam project, respectively.
About EPC business, it said the order has hit Rs 5,540 crore in the December quarter with a revenue of Rs 753 crore.
The company won an "EPC contract for setting up 2x250 MW thermal power plants worth Rs 3,675 crore in Rajasthan from Neyveli Lignite Corporation and is targeting opportunities worth Rs 2 lakh crore planned by the government across power, roads, railways, defence, ports and mega infrastructure projects".
It said all 11 road projects of 1,000 kms are now revenue generating.
"R-Infra InvIT fund has filed DRHP with Sebi for 10 projects with issue size of Rs 3,000 crore and an option to retain up to 25 per cent oversubscription," the statement said.
It said it is the first NHAI concessionaire to go cashless at all its toll plazas across the country.
It won arbitration award for two road projects i.E. NK Toll Road and DS Toll Road with a combined worth of Rs 170 crore. Over Rs 14,000 crore of other projects are under advanced stage of arbitration.
About its Defence Manufacturing Business, RInfra said
Reliance Aerostructure Ltd (51 per cent), promoted by it and Dassault Aviation (49 per cent) formed a JV named "Dassault Reliance Aerospace Ltd" which has received CCI clearance.
"JV will play a major role in executing largest ever offset contract in India worth Rs 30,000 crore for 36 Rafale fighter jets," it said.
It said Reliance Defence & Engineering Ltd (RDEL) has signed a contract for Fast Patrol Vessels (14 nos) worth Rs 916 crore for Indian Coast Guard and is the only private sector shipyard to deliver Panamax class vessel.
It said it is the only shipyard in India selected by US Navy to repair it's ship in Indian Ocean Region and has submitted bids and expressed interest in various naval programmes worth Rs 38,000 crore.
Elaborating other key partnerships, it said it has entered into a JV with Rafael Advanced Systems Ltd (Israel) to focus on Air Defence Systems including Missiles and Large Aerostats which has opportunity worth Rs 65,000 crore over next 10 years.
Besides, it said it has signed a partnership agreement with Antonov (Ukraine) to capitalise on Rs 50,000 crore opportunity over next 10 years in aircraft manufacturing for military & civil use and is targeting large scale ammunition market globally worth Rs 65,000 crore over next 10 years.
RInfra said it has obtained 27 industrial licenses for missiles, ammunition, land, naval systems, helicopters, etc.
RInfra is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.
Shares of the company closed at Rs 535.45 apiece on the BSE, down 1.23 per cent from the previous close.
