Reliance Infra net profit edges up 2%,eyes Rs 1,000 cr in- revenue in FY12
Anil Ambani-promoted Reliance Infrastructure (RInfra) today posted over 2 per cent growth in net profit at Rs 1,551.61 crore for 2010-11 and said it expects around Rs 1,000 crore in revenue from infrastructure business in this financial year.
- (1888PressRelease) June 04, 2011 - MUMBAI: "Most of our projects have either started operations or will commission by FY'12. We expect the investments in these projects to start giving returns and in this fiscal year, we expect around Rs 1,000-crore in top line from infrastructure business," Rel Infra CEO and Whole time Director Lalit Jalan told reporters after the announcement of financial results.
The company had revenue of Rs 117 crore from infrastructure business in the last fiscal.
The company recorded a marginal growth of 2.12 per cent in its consolidated net profit at Rs 1,551.61 crore for the year ended March 31, 2011. The company had reported a net profit of Rs 1,519.39 crore in 2009-10.
Total operating income of the company also rose marginally by 3.65 per cent at Rs 15,408.29 crore during the year vis-a-vis Rs 14,864.82 crore of FY 10.
The company is currently developing 25 projects worth Rs 40,000-crore and has already received financial closure of all of them, Jalan said.
"We already have three operational road projects and additional 7 projects would be operational within 9 months. The Delhi Metro has also started commercial operation in February this year and we expect the Mumbai Metro phase I will commence in Q4 FY 12. Also, the 140-kilometre Pune-Satara road project has been operational since October 2010," Jalan said.
The company has won two 6-laning projects -- Delhi-Agra (UP) and Hosur-Krishnagiri (Tamil Nadu) -- totaling 240-kilometres, he said adding that the phase II of Mumbai Metro was expected to be commissioned by March 2016.
Rel Infra has commissioned its 1,500-kilometer transmission project in Maharashtra and Gujarat in the fiscal, Jalan said.
The company's engineering, procurement and construction business has an order book of Rs 29,635 crore.
Rel Infra's total debt on standalone basis stood at Rs 3,969 crore (USD 890 million), although at the net level, it remains debt free.
The company also declared a dividend of Rs 7.20 per share.
Links:1. http://economictimes.indiatimes.com/news/economy/infrastructure/rinfra-eyes-rs-1000-cr-in-revenue-in-fy12-frm-infra-business/articleshow/8610220.cms
2.http://businesstoday.intoday.in/story/reliance-infrastructure-anil-ambani-rel-infra/1/15876.html
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