Reliance Infrastructure today reported a 26.11 per cent drop in consolidated net profit at Rs 459.11 crore for the fourth quarter ended March 31, 2015, mainly due to higher finance cost and loss from cement and Mumbai metro businesses.
The company, led by Anil Ambani, had clocked a net profit of Rs 621.42 crore in the January-March quarter of the last fiscal.
Reliance Infrastructure net profit stood at Rs 459 crore after a loss of Rs 70 crore by Mumbai Metro and a decline of Rs 55 crore in cement business in Q4 FY 2015, the company said in a statement.
Reliance Infrastructure's total operating income during the quarter declined marginally to Rs 4,618.21 as against Rs 4,707.69 crore in the same period last year.
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.
Segment-wise, power business contributed Rs 3,299.25 crore in revenues, followed by Rs 844.76 crore from EPC and contracts business.
Infrastructure business garnered a revenue of Rs 201.66 crore while Rs 296.82 crore came from the cement business.
During the quarter, the company incurred higher finance costs which went up to Rs 683.46 crore from Rs 451.23 crore in the year-ago period.
For the full year, the company recorded a consolidated net profit of Rs 1,800.18 crore as against Rs 1,913.67 crore in 2013-14.
The company said it could achieve Rs 1,800 crore profit despite "Mumbai Metro and cement incurring a loss of Rs 191 crore and Rs 115 crore respectively."
Its total operating income during the year 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.
The company said, "As on March 31, 2015, the consolidated net worth of the company stood at Rs 26,974 crore and is conservatively financed with debt to equity with 0.9x.
