RInfra posts marginal rise in Q1 net profit

Mumbai, July 30 (IANS) Reliance Infrastructure (RInfra) Tuesday announced current fiscal first quarter net profit at Rs.415 crore ($70 million) over the Rs.412 crore in the corresponding quarter of the previous year -- less than a percent growth.

During the quarter ended June 30, the company had a total operating income of Rs.5,452 crore ($918 million), against Rs.5,383 crore in the corresponding quarter of the previous year.

The Company's net worth stood at Rs.26,433 crore ($4.5 billion), RInfra said, while revenue of Rs.162 crore from its roads projects was an impressive 65 percent growth over previous year.

The highlight of the quarter's performance was the opening of its ninth road project from Jaipur to Reengus in Rajasthan. The four-laning of the 52-km Jaipur-Reengus (JR) road has been completed and toll collection has started. The Rs.556 crore project has been executed on DBFOT (design, build, operate, finance and transfer) pattern.

RInfra has been awarded the JR road contract for a concession period of 18 years. The corridor will witness traffic density of around 22,600 vehicles per day, which is expected to double in the next four years.

RInfra consolidated net profit at Rs.725.12 crore for the previous quarter ending March 2014 was a 76.2 percent jump over the fourth quarter ending March 2012.


Get stories like this on the Yahoo app and discover more every day.
Download it now.