Reliance Infrastructure Posts Rs 40 Crore Profit In January-March Quarter
The company’s consolidated net profit for 2016-17 rose to Rs 1,425.18 crore.
Reliance Infrastructure on Saturday reported a net profit of Rs 40.94 crore for the quarter ended March 31. The company had recorded a consolidated net loss of Rs 327.41 crore during the January-March 2015-16, Reliance Infrastructure said in a BSE filing.
According to the statement, total income of the company was recorded at Rs 6,145 crore in the quarter against Rs 6,910 crore in same period a year ago.
The company's consolidated net profit for 2016-17 rose to Rs 1,425.18 crore as compared to Rs 759.63 crore in 2015-16. The total income in the fiscal under review was Rs 28,222 crore against Rs 28,462 crore in 2015-16. Its engineering procurement and construction order book stood at Rs 5,960 crore and earned a revenue of Rs 2,492 crore in the last fiscal from this business.
The company won EPC contract for setting up 2 x 250 MW thermal power plants worth Rs 3,675 crore in Rajasthan from Neyveli Lignite Corporation Ltd. It also bagged EPC contract to build 66 km road project worth Rs 711 crore in Tamil Nadu.
Its all 11 road projects of Rs 4,370 lane km are now revenue generating , it said. It said the arbitration award won for 2 road projects -- NK Toll Road and DS Toll Road -- was worth Rs 170 crore. Besides, over Rs 14,000 crore is under advanced stage of arbitration.
Reliance Infrastructure Ltd (RInfra) develop projects through various Special Purpose Vehicles in several high growth areas such as power, roads and metro rail in the infrastructure space and the defence sector.
The company's board has recommended a dividend of Rs 9 per share.