Moneycontrol
Jan 13, 2017 10:09 PM IST | Source: CNBC-TV18

Hope to reduce debt by Rs 4k cr by March: IL&FS Transportation

IL&FS Transportation Network today reported net profit of Rs 55.7 crore versus a loss of Rs 19.4 crore for the December quarter. Total income has fallen to Rs 1,020 crore vs Rs 1,117 crore down 8.6 percent in the year ago period.


IL&FS Transportation Network today reported net profit of Rs 55.7 crore versus a loss of Rs 19.4 crore for the December quarter. Total income has declined 8.6 percent to Rs 1,020 crore from Rs 1,117 crore in the year ago period.


Speaking to CNBC-TV18’s Dilip Bhatia, CFO of IL&FS said the order book of the company stands around Rs 12,500 crore on a build, operate and transfer (BOT) basis. The company won an EPC contract worth around Rs 370 crore during this quarter for the Chennai metro stations. International order for the company stands around USD 100 million.


The company is looking forward for Rs 1,000 crore EPC orders to come in, he said. The total debt of the company stands around Rs 9,600 crore and finance cost has come down by 5 percent compared to year ago.


He adds the company has got in principle approval from the SEBI for infrastructure investment trust (InvIT) and registration for the trust. The company is looking at private placement route to deleverage the balance sheet. The company is looking to reduce the debt by Rs 4,000 crore on a consolidated basis.


Below is the verbatim transcript of Dilip Bhatia's interview to Sonia Shenoy & Anuj Singhal on CNBC-TV18.


Sonia: Just start by telling us how the quarter looked in terms of the kind of orders that you got, the orders that you executed and what all is there in the pipeline now?


A: The order book today stands around Rs 12,500 crore which is on a Build-Operate-Transfer (BOT) basis. This quarter we had our first win in Engineering, Procurement, Construction (EPC) which is around Rs 370 crore odd which is the some work in the Chennai metro stations. At international level order book stands around USD 100 million. As we go along, I think the order book in terms of the BOT looks to be where we are but in EPC we see good wins coming going forward.


Anuj: We still don’t have your consolidated numbers? What we have is standalone numbers where the income has fallen. Can you tell us the consolidated numbers?


A: At the consolidated level and as you know, we as a company since we have went into IND-AS conversion and we being a large entity with multi international operations we have chosen this year, the board has chosen for the quarterly basis come out with a standalone numbers. We will be coming out with consolidated numbers in the March quarter for that quarter and the whole year.


Sonia: You mentioned that you saw an EPC win of Rs 370 crore in this quarter. What is the EPC pipeline looking like over the next say 6 to 12 months?

A: In terms of going forward as we have indicated earlier, we are looking at some high value added EPC orders coming in. We expect in next 12 months around Rs 1,000 crore odd to be coming.

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