Reliance Infra’s 2014-15 net profit down 6 percent

Mumbai, May 27 (IANS) Reliance Infrastructure on Wednesday reported a decline of 6 percent in its consolidated net profit for 2014-15 which stood at Rs.1,800.18 crore from Rs.1,913.67 crore during the previous financial year.

However, the net profit for the period under review would have been higher by 18 percent at Rs.2,106 crore from Rs.1,914 crore, prior to Mumbai Metro and a cement business loss of Rs.191 crore and Rs.115 crore respectively and excluding one-off gain in a Mumbai generation of Rs.130 crore.
The company’s total income for the year ended March 31, 2015 fell by 7.01 percent and stood at Rs.18,852 crore from Rs.20,274 crore in the corresponding previous fiscal.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 12 percent to Rs.4,564 crore.
The company’s consolidated net worth stood at Rs.26,974 crore at the end of the fiscal (March 31, 2015) under review.
The company also reported a fall of 26.08 percent in its consolidated net profit for the fourth quarter of 2014-15.
The company said its net profit for the quarter under review stood at Rs.459 crore from Rs.621 crore during the corresponding quarter of the 2013-14.
The company’s total income for the quarter ended March 31, 2015 marginally slipped by 0.15 percent and stood at Rs.5,028 crore from Rs.5,036 crore in the corresponding previous quarter.
Among the other highlights, the company’s power distribution business added 289,100 new customers in the metros of Delhi and Mumbai in 2014-15.
The company maintains its lead as being the largest private sector distributor of power in the country, serving 64.9 lakh consumers.
In addition, the company’s power distribution business in Mumbai recovered Rs.884 crore arrears in FY15. It also recovered Rs.226 crore cross subsidy surcharge.
For the infrastructure segment, the company said that over 85 million commuters travelled in the Mumbai Metro within the first 11 months of operations.
The Mumbai Metro earned revenue of Rs.136 crore in FY15.
The company’s roads sector’s earned revenue worth Rs.606 crore in the year ended March 31, 2015.
The company said that 10 out of 11 road projects are revenue generating and that the 11th road project will be operational in first quarter FY16.
In the cement business, the company earned of Rs.519 crore in the fiscal under review.
“Ramping up production from 5.8 mtpa operational capacity at Maihar in Madhya Pradesh,
Kundangunj in Uttar Pradesh, Butibori in Maharashtra and Durgapur in West Bengal,” the company was quoted in a statement.
“Catering to key markets in Madhya Pradesh, Uttar Pradesh, Jharkhand, Bihar, West Bengal and Vidarbha region. In FY15, (company) won Sial Ghogri coal mine with extractable reserves of 5.7 million tonnes,” the statement said.
The company’s EPC (engineering, procurement and construction) business earned a revenue of Rs.2,752 crore in the fiscal under review. Its order book stood at Rs.5,048 crore as on March 31, 2015.
The company entered the defence manufacturing sector. The company acquired Pipavav Defence and Offshore Engineering via acquisition of 18 percent promoters stake accompanied by open offer for 26 percent of share capital.