R-Infra net up 6% to Rs 382 cr
The Anil Ambani group’s Reliance Infrastructure on Tuesday reported a six per cent rise in consolidated net profit at Rs 382 crore for the September quarter, despite a dip in operating income. The company had reported a net profit of Rs 362 crore in the same quarter of fiscal 2011. Total operating income declined to Rs 5,515 crore in the quarter as against Rs 5,729 crore in the same quarter of 2011
Addressing a news conference, Lalit Jalan, CEO and MD of Reliance Infrastructure said this financial year the company will have lower revenue in the EPC business. “We are expecting the revenue from the EPC business to be in the region of Rs 7,500-8,000 crore.”
Jalan said the company is closely working on acquiring new projects. “There are many projects in the pipeline including the large one such as Tilaiya and Krishnapatnam power projects, which are fairly large projects. Even a single project can add Rs 15,000-16,000 crore to order book. We are in talks with the Reliance Power and we are confident that over the next few months we will be able to scale up our order book. With the help of new projects we will be again on track and start hitting Rs 9000-10000 crore annual revenue,” he said.
On roads projects, Jalan said the interest cost will stabilise as the road projects become operational. “We have 8 operational road projects and by the end of this year we will operationalise 10 road projects out of the 11 projects. So there will be corresponding revenue flowing in the coming months and that to some extent absorb the interest cost. On a full year basis these road projects can generate revenues to the extent of about Rs 1500 crore,” he said.
Reliance Infrastructure stock closed down 1.85 per cent at Rs 478 a share.