Re­liance In­fra Q4 Net De­clines 14% to .` 621 cr

Drop in earn­ings from en­gi­neer­ing & con­struc­tion biz takes a toll on profit

The Economic Times - - Economy - OUR BUREAU

Re­liance In­fra­struc­ture’s con­sol­i­dated net profit de­clined 14% year-on-year to .` 621crore in the fourth quar­ter of 201314, as earn­ings from its en­gi­neer­ing and con­struc­tion busi­ness plum­meted. The Anil Dhirub­hai Am­bani Group com­pany re­ported a con­sol­i­dated to­tal in­come of .` 4,708 crore in the quar­ter ended March, down 24% from a year ago. While the rev­enue from com­pany’s elec­tric­ity busi­ness clocked a mar­ginal de­cline, its sales from en­gi­neer­ing, pro­cure­ment and con­struc­tion (EPC) busi­ness nose­dived 61% year-on-year to .` 883 crore. “Our EPC rev­enue has de­clined as we are on the verge of com­plet­ing most of the jobs where con­struc­tion had started. We are yet to start work on a new set of or­ders,” chief ex­ec­u­tive of­fi­cer Lalit Jalan told re­porters. The com­pany said that as a de­vel­oper, it started op­er­a­tions in one more road project this year and its Mum­bai Metro Rail project is on track to start commercial op­er­a­tions by June.

Net sales de­clined to .` 3,600 crore in the fourth quar­ter against .` 3,692 crore in the year-ago pe­riod. For the year 2013-14, Re­liance In­fra­struc­ture’s con­sol­i­dated rev­enue de­clined 15% Year-on- Year to .` 19,034 crore. Its net profit for the year in­creased by 2.2% .` 1,914 crore. ADAG’s power util­ity, Re­liance Power’s net profit in­creased marginally by 0.6% in the quar­ter ended March to .` 269 crore. Its rev­enue in­creased al­most 9% Year-on-Year to .` 1,359 crore, driven by an in­crease in other op­er­at­ing in­come.

“Con­struc­tion work is in full swing for the re­main­ing three units of the Sasan UMPP and each unit is on track to be com­mis­sioned in the cur­rent year,” the com­pany said.

Its 100 MW-con­cen­trated So­lar Power project in Dhur­sar, Ra­jasthan, is in ad­vanced stage of com­mis­sion­ing. This will be the largest CSP plant to be com­mis­sioned un­der the govern­ment’s Na­tional So­lar Mis­sion.

For the year ended March, the com­pany re­ported net profit of .` 1,027 crore, up 1.5% from 201213. Its rev­enue in­creased 5% year-on-year to .` 5,175 crore.

R-Power Net Up Marginally

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