RInfra notches Rs 1,914 crore net profit last fiscal
Mumbai: Reliance Infrastructure (RInfra) on Monday announced its financial results for the year ended March 31, 2014, with a net profit of Rs 1,914 crore (USD 319 million), an increase over the corresponding previous year`s Rs 1,872 crore.
The total income for financial year 2014 was Rs 20,274 as against Rs 23,433 crore in the previous financial year when there was exceptional item of Rs.379 crore pertaining to sale of RPower shares through Offer For Sale mechanism.
The last quarter of 2014 (Q4 FY14) showed a total income of Rs 5,036 crore (USD 840 million), an increase of 19 percent over the last year`s corresponding period total income of Rs 4,218.
Accordingly, the company notched a net profit of Rs 621 crore (USD104 million) in Q4FY14, an increase of 38 percent over the previous quarter`s Rs 450 crore.
As on March 31, 2014, the consolidated net worth of the company stood at Rs 27,143 crore.
Among the key highlights of the year was addition of 300,000 new power consumers in Mumbai and Delhi, and RInfra regained all the consumers who had move to Tata Power in the last four years.
Revenue from the infrastructure businesses increased by 28 percent with 10 out of 11 projects generating revenue.
The prestigious Mumbai Metrorail Project will start commercial operations within the first quarter of FY15, or within the next few months.
The company has also started commercial production from five MTPA cement plant in Madhya Pradesh while its transmission project in Maharashtra is fully commissioned.