RInfra's Q2 consolidated net profit at Rs 544 cr

Reliance Infrastructure (RInfra) on Saturday reported a consolidated net profit of Rs 544 crore ($83 million) for the second quarter of 2017-18.

The company had posted a net profit of Rs 571 crore in Q2 of 2016-17.

According to RInfra, its consolidated total income during the quarter under review increased to Rs 7,621 crore ($1.2 billion), against Rs 7,293 crore in the corresponding quarter of the previous financial year.

The firm's earnings before interest, taxes, depreciation and amortisation (EBITDA) during Q2 increased by 6 per cent to Rs 2,256 crore from Rs 2,138 crore reported for the corresponding quarter of 2016-17.

Among the key highlights of the quarter, the company added 77,200 new households to its power users consumer base in Mumbai and Delhi.

On transmission business, RInfra said that it completed a 100 per cent sale of "WRSSS transmission project" to Adani Transmission for Rs 1,000 crore and that the entire proceeds were utilised for debt reduction.

The company's EPC (engineering, procurement and construction) business had an order book of Rs 5,635 crore and revenue of Rs 341 crore in Q2 FY18.

"Targeting opportunities worth Rs 2 lakh crore p.a. planned by government across power, roads, railways, ports and mega infrastructure projects. Bids in pipeline worth Rs 50,000 crore for participation across power, transport and civil infrastructure," the company said in a statement.

In the road infrastructure segment, the company earned revenue worth Rs 255 crore from all 11 revenue generating assets

"Expect Delhi Agra and Pune Satara projects to be completed within FY18," the statement said.

Further, RInfra earned revenue worth Rs 74 crore in Q2 FY18 from its Mumbai Metro One project.

In defence manufacturing space, the company's JV Dassault Reliance Aerospace is expected to play a major role in meeting the offset obligation of Rs 30,000 crore for "Rafale 36" contract.

"Foundation stone laid for the manufacturing facility in Mihan, Nagpur (Maharashtra). JV will also represent largest defence FDI in single location in India," the statement added.

--IANS

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