)
Anil Ambani-led Reliance Infrastructure and Reliance Power reported flat profit for second quarter FY15.
RInfra’s profit rose to Rs 431 crore in second quarter FY15 from Rs 426 crore from same period last year while Reliance Power’s profit grew to Rs 253 crore from Rs 251 crore over the same period after a 35 per cent increase in revenue. Its operating revenue rose to Rs 1,784 crore from Rs 1,321 crore in second quarter of last fiscal.
RInfra’s revenue fell 18.4 per cent to Rs 4,057 crore from Rs 4,977 crore in the second quarter of last financial year, largely due to the completion of its EPC projects and the result was aided due to higher other income.
“We continue to evaluate opportunities both in BOT and EPC space,” said M S Mehta, RInfra’s chief executive officer.
Almost all its road projects are operational leading to reduced order book in EPC segment. The company expects fresh order intake from cement and power projects being executed by the group.
Mumbai metro project suffered a loss of Rs 57 crore and the company expects a better result through a mix of traffic growth and tariff revision. The tariff issue however has led to controversy and litigation and a fare fixation committee will look into the issue.
Reliance Power said construction work of remaining unit of the 3900 Mw Sasan plant is underway and will be commissioned by year end. Earlier in the week it announced that 100 Mw concentrated solar plant in Rajasthan has begun operation.
