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Reliance Infrastructure Ltd

Reliance Infrastructure Limited Announces Q1 FY 17 Results

Sep 13, 2016   14:57 IST 
Mumbai, Maharashtra, India
  • Q1 FY17 Total Income of INR 7,640 Crore (US$ 1.1 billion)

  • Q1 FY17 EBITDA of INR 1,751 crore (US$ 259 million) – UP 4%

  • Q1 FY17 Net Profit of INR 489 crore (US$ 72 million) – UP 19% (prior to Defence Business Loss of INR 50 million IN Q1FY17)

  • Q1 FY17 Net Profit of INR 439 crore (US$ 65 million) – UP 7% (after Defence Business Loss of INR 50 crore in Q1FY17)

  • Consolidated Net Worth of INR 25,920 crore (US$ 3.8 billion) and Book Value of INR 986 crore (US$ 15) per share at the end of Q1 FY17

 

Key Highlights:

  • Arbitration awards won for 2 Road Projects worth INR 170 crore over INR 14,000 crore is under advanced stage of arbitration

  • RInfra completes 100% sale of its cement subsidiary to Birla Corporation Limited for INR 4,800 crore

  • Asset monetisation of Roads & Mumbai Power Business in progress.

  • Targeting EPC opportunities worth INR 2 lakh crore planned by Government across infrastructure sector.

  • Over 63,000 new consumers added in Mumbai and Delhi DISCOM in Q1 FY17

  • Recovered INR 241 crore arrears in Mumbai distribution in Q1 FY17.

 

Reliance Infrastructure Limited (RInfra) today announced its unaudited financial results for the quarter ended June 30, 2016. The performance highlights are:

 

Consolidated results – Quarter ended June 30, 2016

  • Q1 FY17 Total Income of INR 7,640 crore (US$ 1.1 billion) against INR 7,644 crore in Q1 FY16

  • Q1 FY17 EBITDA of INR 1,751 crore (US$ 259 million) against INR 1,691 crore in Q1 FY16, an increase of 4%

  • Q1 FY17 Net Profit of INR 439 crore (US$ 65 million) against INR 409 crore in Q1 FY16, an increase of 7%, inspite of defence business loss of INR 50 crore in Q1 FY17

 

As on June 30, 2016, the consolidated Net worth of the Company stood at INR 25,920 crore and is conservatively financed with debt to equity of 1.3x

 

Power Business

Distribution: Largest private sector distributor of power serving 67.4 lakh consumers

 

Mumbai Distribution

  • Recovered INR 241 crore arrears in Q1 FY17; Totally recovered INR 2,488 crore till date

  • 16,800 new consumers added in Q1 FY17; Total consumers : 29.5 lakh

  • Discussion in advanced stage with PSP Investments of Canada for 49% stake sale in Mumbai power business

 

Delhi Distribution

  • 46,200 new consumers added in Q1 FY17; Total consumers : 37.9 lakh

 

Transmission : All projects are commissioned and revenue generating

 

EPC Business :

  • Order Book of INR 2,720 crore & earned revenue of INR 723 crore in Q1 FY17

  • Targeting opportunities worth INR 2 lakh crore planned by Government across power, roads, railways, defence, ports and mega infrastructure projects

  • Already submitted bids worth INR 15,000 crore in last 3 months

 

Infrastructure Business

Roads :

  • Earned revenue of INR 259 crore in Q1 FY17, an increase of 27% YoY

  • All 11 road projects of ~1,000 kms are now revenue generating

  • Discussion in advanced stage to monetise entire road portfolio

 

Mumbai Metro :

  • Earned revenue of INR 55 crore in Q1 FY17, an increase of 12% YoY

  • Over 21 crore commuters travelled with 100% train availability

  • Awarded “Best Metro of the Year 2016” by Indian Merchants Chamber

  • Fare Fixation Committee recommended increased fare band ranging from INR 10 to INR 110

  • Approached State Govt. to provide subsidy & other revenue streams to contain fare risee

 

Cement Business

  • RInfra completes 100% sale of its cement subsidiary to Birla Corporation Ltd for INR 4,800 crore

  • Entire proceeds utilised for debt reduction

 

Arbitration Award

  • RInfra welcomes Cabinet Committee on Economic Affairs (CCEA) initiative to revive construction sector

  • Arbitration award won for 2 road projects i.e. NK Toll Road & DS Toll Road worth INR 170 crore

  • Over INR 14,000 crore is under advanced stage of arbitration

 

Defence Manufacturing Business

  • RInfra acquired management control of Reliance Defence & Engineering Ltd (RDEL) erstwhile Pipavav Defence and Offshore Engineering Company Ltd - Executed Sub Concession Agreement valid upto 2046

  • Received 27 industrial licenses for missiles, ammunition, land & naval systems

  • Focus on Air Defence Systems including Missiles and Large Aerostats via joint venture with Rafael Advanced Systems Ltd (Israel) – Opportunity worth US$ 10 billion over next 10 years

  • Focus on aircraft manufacturing through partnership agreement with Antonov (Ukraine) for military & civil use – Opportunity worth US$ 5 billion over next 10 years

  • Looking at tapping large scale ammunition market globally & India - Opportunity worth US$ 10 billion over next 10 years

 

Reliance Infrastructure Limited

Reliance Infrastructure Ltd (RInfra) is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.

 

RInfra is also a leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission, Distribution and Power Trading.

 

RInfra through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; eleven road projects with total length of 1,000 kms on build, operate and transfer (BOT) basis.

 

RInfra also provides Engineering, Procurement and Construction (EPC) services for developing power and road projects.

 

The Company has recently entered into the defence sector. The Maharashtra Government has allotted land at Mihan near Nagpur for the development of India's first smart city for the defence sector known as Dhirubhai Ambani Aerospace Park (DAAP). RInfra has recently completed acquisition of Reliance Defence & Engineering Ltd, which houses India’s largest dry dock facility to build warships and other naval vessels.


 
 
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