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Reliance Infrastructure today reported a marginal rise in consolidated net profit at Rs 452 crore for the third quarter ended December 2014, weighed down by higher finance cost and loss from cement and Mumbai metro businesses.
The company, led by Anil Ambani, had clocked a net profit of Rs 450 crore in the October-December quarter of the last fiscal, it said in a statement.
Reliance Infrastructure's total income increased by 14% to Rs 4,788 crore during the quarter from Rs 4,218 crore in the same period last year.
Segment-wise, power business contributed Rs 3,265 crore in revenues, followed by Rs 728 crore from EPC and contracts business. Infrastructure business garnered a revenue of Rs 187 crore while Rs 158 crore came from the cement business. Other income contributed the rest.
Though tax expenses during the quarter declined to Rs 28 crore from Rs 126 crore a year earlier, net profit remained largely flat due to higher finance costs which went up to Rs 618.47 crore from Rs 376.31 crore in the year-ago period.
The company said its Mumbai metro and cement business incurred Rs 54 crore and Rs 58 crore loss respectively during the reported quarter.
Reliance Infrastructure said over 63 million commuters travelled in the Mumbai metro in the first eight months of operation.
