RInfra Q3 net profit jumps 78 percent

Reliance Infrastructure (RInfra) Monday declared a 78 percent rise in net profit year-on-year for the quarter ended December 2012.

The net profit for the quarter stood at Rs.728 crore ($132 million), against Rs.408 crore in the corresponding quarter of the previous year.

RInfra had a total operating income of Rs.5,296 crore ($963 million), against Rs.6,160 crore in the like quarter of the previous year.

The infrastructure major’s cash profit of Rs.896 crore ($163 million) is a jump of 61 percent over the Rs.557 crore earned in the like quarter of previous year.

The earnings per share (EPS) increased 78 percent at Rs.28 against Rs.16 in the same quarter of the previous fiscal.

The company said that on consolidated basis its net worth stood at Rs.26,156 crore ($4.8 billion) and book value per share at Rs.995 as on Dec 31, 2012.

In power, RInfra generated 1,334 million units in the fiscal’s third quarter. Its plant in Dahanu, Maharashtra, continues to run at 100 percent PLF (plant load factor) since last seven years, the statement said

With the revenue operationalising of the Delhi-Agra six-lane toll road becoming its 8th completed road project, the company said 10 projects will be revenue operational within fiscal 2013.

Another achievement of the company was the resumption of commercial operations by the Delhi Airport Metro Link after obtaining clearance from the Commissioner Metro Rail Safety (CMRS).

RInfra said 99 percent of civil work has been completed for the Metro Line I in Mumbai of 12 km length and with 12 stations.

The company also announced a strategic long-term partnership with Wanda group of China for real estate development in Hyderabad.