The Anil Ambani-led Reliance Infrastructure Ltd (R-Infra) on Tuesday reported a flat 1.7 per cent growth in first quarter net profit at Rs 412 crore, compared with Rs 405 crore in the corresponding quarter last year.
The company’s total income grew four per cent to Rs 5,383 crore from Rs 5,176 crore a year ago.
“Profits will always be back-ended in infrastructure projects, and many include losses as well because of interest and depreciation. Initial few years of infrastructure projects will be challenging on profit and loss accounts,” said Lalit Jalan, chief executive officer of R-Infra. Revenues from the infrastructure business grew 49 per cent to Rs 98.4 crore, with seven operational projects. Revenues from the electricity business grew five per cent, while its engineering, procurement and construction and contracts business showed a 0.6 per cent growth.
R-Power Q1 net up 22%
Reliance Power on Tuesday posted a 22 per cent growth in its first quarter net profit at Rs 239.5 crore, compared to Rs 196 crore in the corresponding quarter last year.
Its total income more than doubled to Rs 1,135 crore from Rs 542 crore a year ago, as it generated twice as many electricity units from its 1,200 Mw Rosa power project. “We have crossed two billion units, and we hope to generate more than nine billion units in this financial year,” said chief executive officer J P Chalasani.