R-Infra's yearly net rises despite dip in 4th quarter
Reliance ADAG firm Reliance Infrastructure’s net profit for the quarter ended March 31 fell 27.5 per cent to Rs 251 crore from Rs 346.2 crore in the corresponding quarter of the previous year.
The fall in net was partly due to payment of Rs 71.85 crore in deferred taxes from previous years. Its net sales of electrical energy also fell to Rs 1,268.4 crore from Rs 1,452.95 crore, down 12 per cent in the period. The company is engaged in a dispute with Tata Power over purchase of electricity in Mumbai.
However, R-Infra’s income from EPC (engineering, procurement and construction) and contracts divisions rose by 48.2 per cent to Rs 1,284.75 crore against Rs 886.7 crore in the corresponding period last year. Its cost of electrical energy purchased fell 21.5 per cent to Rs 565 crore from Rs 720.1 crore. This was due to reduction in fuel adjustment cost.
According to Jalan, the company’s EPC order book position stood at Rs 19,250 crore. The division is working on five power projects of over 7,500 Mw, along with two road projects. During the year, the turnover the EPC division was Rs 3,415 crore against Rs 2,437 crore. The EPC business is expected to grow 30 per cent.
Jalan said the company was developing 23 projects of Rs 36,200 crore, covering areas such as roads, metro rails, transmission, sea link and airports, excluding distribution business, and two speciality real estate projects. “There will be 13 revenue-generating projects in 2010-11, having a total project outlay of Rs 21,000 crore,” he added.
The company’s cement arm, Reliance Cementation, has achieved financial closure for a five-million tonne project in Maharashtra.