Reliance Infrastructure reports 49 pct decline in net profit during Q2 2018-19

Anil Ambani-led Reliance Infrastructure (RInfra) has posted a 49 per cent decline in its consolidated net profit to Rs 277.19 crore for the quarter ended September 2018.

The company had posted a consolidated net profit of Rs 543.8 crore in the year-ago period, RInfra had said in a filing to the BSE on Wednesday.

Meanwhile, the company said in a statement that prior to one-time provision of Rs 4,200 crore its net profit was Rs 4,477 crore in July-September of this fiscal as against Rs 544 crore in the same period a year ago, showing a 723 per cent jump.

The company's consolidated income increased to Rs 7,207.3 crore in the July-September quarter, over Rs 5,898.7 crore in the year-ago period, the filing said.

RInfra achieved 65 per cent overall debt reduction in Q2 FY19 from Rs 22,000 crore to Rs 6,900 crore, the statement said.

In the engineering and construction business, RInfra said that its order book was at Rs 27,800 crore as on September 30, 2018, it added.

In the July-September quarter, the company's EBITDA was "at Rs 2,440 crore, up 45 per cent", the statement said.

RInfra is a leading infrastructure company, 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 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 about 1,000 kms on the build-operate-transfer (BOT) basis.