Mumbai: Reliance Infrastructure on Friday reported a muted growth in consolidated net profit at 411.46 crore for the March quarter against Rs 410.88 crore of the year ago period, despite posting a hefty rise of about 90 per cent in its total operating income. (Agencies)
The quarterly results were impacted largely due to rise in expenditure and finance costs. While total expenditure of the company rose by over 84 per cent to Rs 6,739.98 crore, its finance cost was up over two times to Rs 419.30 crore during the quarter.
Total operating income of the Anil Dhirubhai Ambani Group (ADAG) firm was Rs 7,135.31 crore during the January-March quarter, an increase of about 90 per cent vis-a-vis Rs
3,757.89 crore of the corresponding quarter of FY,11, it said in a filing to the BSE.
The company has presence in various segments of infrastructure sector, including roads, EPC, metro rail, airports, power generation, transmission and distribution.
For the full year 2011-12, the company reported a growth of 2.27 per cent in consolidated net profit to Rs 1,586.81 crore, while its total operating income was up 59.47 per cent to Rs 24,271.80 crore.
The company said in a separate statement that it has invested Rs 4,363 crore of equity in its various infrastructure special purpose vehicles till March, 2012.
The ADAG firm added that it is expecting to commission the Mumbai Metro Line with in the current financial year and has completed 90 per cent of the civil work.
It added that the company's EPC (engineering, procurement and construction) division reported a 3.7 times increase in its revenues to Rs 11,048 crore in the last fiscal. Its order
book, as on March, 2012, stood at Rs 17,280 crore.
Besides, the company is also expecting tariff revision to happen soon for its power distribution firms in Delhi and Mumbai.
The infrastructure major is also planning to commission its cement manufacturing unit of 5 million tonnes capacity at Butibori in Maharashtra during the second quarter of the current fiscal, the statement said, adding that construction of cement plant at Maihar, Madhya Pradesh is also on.
Company's Board has recommended a dividend of Rs 7.30 per share for the last fiscal, it added.
Shares of the ADAG firm closed today at Rs 463.05 apiece on the BSE, up 1.86 per cent from the previous close.
Mumbai: Reliance Infrastructure on Friday reported a muted growth in consolidated net profit at 411.46 crore for the March quarter against Rs 410.88 crore of the year ago period, despite posting a hefty rise of about 90 per cent in its total operating income.