RInfra Q1 net profit up 21 pc at Rs 280 cr


PTI | New Delhi | Updated: 14-11-2019 20:21 IST | Created: 14-11-2019 20:09 IST
RInfra Q1 net profit up 21 pc at Rs 280 cr
Representative Image Image Credit: ANI
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Reliance Infrastructure (RInfra) on Thursday reported a 21.07 percent rise in its consolidated net profit to Rs 280.35 crore for the second quarter ended September 30. The company had posted a consolidated net profit of Rs 231.55 crore in the corresponding quarter of the previous fiscal, RInfra said in a BSE filing.

Its total income during the July-September quarter declined to Rs 6,357.97 crore, as against Rs 7,182.76 crore in the year-ago period. Total expenses rose to Rs 5,835.40 crore during the quarter as against Rs 5,760.16 crore in the corresponding quarter of the previous fiscal.

"Over 61,700 new households added in Delhi Discoms i.e. BRPL and BYPL," RInfra said, adding that the total households stand at 43.2 lakh. During the quarter under review, revenue to the tune of Rs 284 crore came from road projects, an increase of 7 percent against the corresponding quarter of the previous fiscal.

The revenue from Mumbai Metro One grew by 10 percent year-on-year to Rs 92 crore. "All the 16 Lenders of Reliance Infrastructure signed the Inter Creditor Agreement (ICA) on July 6, 2019. The company achieved standstill for 180 days as per ICA. The company plans to implement its Resolution Plan well within this period by monetizing assets," the company said in a statement.

The sale of Delhi Agra (DA) toll road for an enterprise value of Rs 3,600 crore to Cube Highways and Infrastructure III Pte Ltd is on track for closure, it added. RInfra is one of the major infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and defense sector.

RInfra through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; ten road projects on build, operate and transfer (BOT) basis.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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