Mumbai– Reliance Infrastructure (RInfra) on Monday reported an exponential rise of 291 per cent in its consolidated net profit for the fourth quarter of 2017-18.
According to the company, the consolidated net profit increased to Rs 160 crore from Rs 41 crore reported for the corresponding period of previous fiscal.
“If we exclude Mumbai Metro loss of Rs 43 crore and RNaval loss of Rs 130 crore in Q4 FY18, Net Profit would have been higher by 135 per cent YoY to Rs 333 crore,” the company said in a statement.
The company’s consolidated total income during the quarter under review increased by 12 per cent to Rs 6,737 crore ($1 billion).
In addition, the firm’s earnings before interest, taxes, depreciation and amortization (EBITDA) during Q4 rose by 50 per cent to Rs 2,399 crore ($368 million).
On a financial year basis, RInfra reported a consolidated net profit of Rs 1,339 crore ($206 million) for 2017-18.
“FY18 net profit of Rs 1,888 crore ($290 million) — up 1 per cent (prior to Mumbai Metro loss of Rs 238 crore and RNAVAL loss of Rs 311 crore),” the statement said.
As per RInfra’s statement, its total income for the financial year under review stood grew by three per cent to Rs 28,724 crore ($4.4 billion).
“Consolidated net worth of Rs 24,219 crore ($3.7 billion) and book value of Rs 921 ($14) per share at the end of FY18,” the statement said.
Among the key highlights of the quarter, the EPC (engineering, procurement and construction) business has a current order book stood at Rs 20,500 crore. It has “won projects worth Rs 15,700 crore in last 1 year”.
In the road infrastructure segment, the company’s revenue increased by 13 per cent to Rs 1,093 crore.
“Expect Delhi-Agra and Pune-Satara projects to be completed in 2018,” the statement said.
Further, RInfra earned revenue worth Rs 291 crore in 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.
In terms of arbitration, the company won an arbitration award against DMRC worth Rs 5,300 crore including interest.
“Received Rs 306 crore as immediate relief to ensure than no account of lenders of DAMEPL turns NPA. Hon’ble Delhi HC has directed DMRC to service entire debt of DAMEPL worth Rs 1,618 crore,” the statement said.
“Arbitration award won for 48 MW Goa power plant against Government of Goa worth Rs 292 crore.” (IANS)