Reliance Infrastructure today reported a 26.11 per cent drop in consolidated net profit for the quarter ended March 31, 2015 at Rs 459.11 crore, mainly due to the loss the company has incurred from its cement and Mumbai metro businesses.
The company had reported a net profit of Rs 621.42 crore in the January-March quarter of the last fiscal.
Its total operating income during the quarter declined marginally to Rs 4,618.21 crore as against Rs 4,707.69 crore in the corresponding period last year.
"Our net profit for the quarter would have been 19 per cent higher if we exclude the loss of Rs 70 crore incurred by Mumbai Metro and Rs 55 crore in cement business during the period as well as one time gain in Mumbai generation of Rs 130 crore," its Chief Executive M S Mehta told reporters here.
Its total expenditure during the quarter was almost flat at Rs 4,140.63 crore as against Rs 4,159.66 crore in the corresponding period a year-ago.
For the year, the company recorded a consolidated net profit of Rs 1,800.18 crore as against Rs 1,913.67 crore in FY14.
Its total income for FY 2015 dropped to Rs 17,198.46 crore as against Rs 19,033.68 crore in the previous year.
Total expenses during the year stood at Rs 15,120.65 crore in comparison to Rs 16,736.88 crore in the previous year.
During the year, the company incurred a loss of Rs 191 crore and Rs 115 crore on its Mumbai metro and cement businesses, respectively.
"This year has been quite good...Operations have been stable in all the businesses. Our view is that after the sluggish years in the roads sector, there has been an improvement in traffic which is a reflection of GDP growth and increase in economic activities," he said.
Segment-wise, power business contributed Rs 3,299.25 crore in revenues, followed by Rs 844.76 crore from EPC and contracts business during the quarter.
Infrastructure business garnered a revenue of Rs 201.66 crore while Rs 296.82 crore came from the cement business.
