RInfra Q1 net income up 8% to Rs 405 cr

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RInfra Q1 net income up 8% to Rs 405 cr

The Anil Ambani-led Reliance Infrastructure (RInfra) today posted an 8 percent rise in net profit for the June quarter at Rs 405.39 crore driven by a robust 38.36% jump in revenues at Rs 5,191.18 crore.

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The Anil Ambani-led Reliance Infrastructure (RInfra) today posted an 8 percent rise in net profit for the June quarter at Rs 405.39 crore driven by a robust 38.36% jump in revenues at Rs 5,191.18 crore.

During the same quarter last fiscal it had a net income of Rs 375.29 crore on a revenue of Rs 3,751.84 crore.

"Already four road projects are operational and work on six others are on track. By end of this fiscal we expect all the 10 projects to be fully operational," RInfra whole-time director and chief executive Lalit Jalan told reporters.

The company is developing 11 road projects of around 970 km. "The Hosur Krishnagiri (in Tamil Nadu) six-laning project, part of the Bengaluru-Chennai Golden stretch quadrilateral, has commenced operations from June. We expect that by FY13, revenues from toll collection from all road projects will increase substantially," he said.

The company''s electricity business accounted for Rs 3,325.44 crore of total operating income, followed by the EPC and contract business which fetched Rs 1,754.08 crore. The remaining operating income came from the infrastructure vertical.

"We reported a substantial increase in the EPC revenue in this quarter mainly on the back of bagging various contracts, including the Samalkot UMPP from Reliance Power.

Our current EPC order book is around Rs 28,000 crore," Jalan said.
RInfra is developing three metro projects--two in Mumbai and the Airport Express line in Delhi.

The already commissioned Delhi line is 23 km long and has six stations, while the under-construction Mumbai metro projects would cover 43 km in two phase with 45 stations.

The Mumbai Metro Line I of 12 km with 12 stations and is expected to be commissioned towards the end of this fiscal.

The company has achieved financial closure for the Charkop-Bandra-Mankhurd Metro Phase II too.