R-Infra Q3 net up 49 pc at Rs 375 cr, eyes Rs 2 lakh cr opportunities
New Delhi: Reliance Infrastructure (R-Infra) today saw its consolidated net profit jump by 49 per cent to Rs 375 crore for the quarter to December 2016. The Anil Ambani-led infrastructure major had clocked a net profit of Rs 251.50 crore in the same quarter of 2015-16.
Its total operating income during the quarter under review stood at Rs 5,815.69 crore as against Rs 6,199.48 crore. Total expenditure increased to Rs 5,775.23 crore during the period as against the earlier Rs 5,407.82 crore.
"As on December 31, 2016, the consolidated net worth of the company stood at Rs 31,616 crore with debt to equity of 0.93x," R-Infra said in a statement.
About its power business, it said Mumbai distribution recovered Rs 231 crore arrears in the third quarter of 2016-17 with a total recovery of Rs 2,926 crore till date. R-Infra said it has added 16,400 new consumers in the December quarter with the number of total consumers reaching the 29.7 lakh mark.
The company said, "Discussions are in advanced stage with PSP Investments of Canada for 49 per cent stake sale in Mumbai power business."
On Delhi distribution, it said it has added 45,000 new consumers in the quarter with the total number of consumers coming in at 38.8 lakh and activated over 200 rooftop solar net metering connections with sanctioned load of 7,000 kw.
The company has executed a share purchase agreement with Adani Transmission Ltd for 100 per cent sale of WRSSS transmission assets and Parbati Koldam project, respectively. About EPC business, it said the order has hit Rs 5,540 crore in the December quarter with a revenue of Rs 753 crore.
The company won an "EPC contract for setting up 2x250 MW thermal power plants worth Rs 3,675 crore in Rajasthan from Neyveli Lignite Corporation and is targeting opportunities worth Rs 2 lakh crore planned by the government across power, roads, railways, defence, ports and mega infrastructure projects".
It said all 11 road projects of 1,000 kms are now revenue generating.
