Anil Ambani group firm Reliance Infrastructure on Saturday said its standalone net profit declined 27 per cent to Rs 251.09 crore for the quarter ended March 31, 2010, due to higher tax expenses.
Reliance Infra's Chief Executive Officer Lalit Jalan attributed the decline to higher tax expenses of Rs 38.36 crore during the quarter.
The company had received a tax refund of Rs 71.85 crore in the same period last year. It had posted a net profit of Rs 346.17 crore in the January-March quarter of previous financial year.
The total income during the quarter rose to Rs 2,643.87 crore compared to Rs 2,409.24 crore in the year-ago period.
The consolidated net profit for the whole 2009-10 rose by 12 per cent to Rs 1,519 crore on the back of higher operating income, Jalan said.
Operating income during the year rose to Rs 14,865-crore, up 16 per cent, from Rs 12,845-crore in FY'09, he said. "The outlook for the current financial year is positive as we have a robust pipeline of 13 projects," Jalan said.
At present, the company is developing 23 projects aggregating Rs 36,200 crore, which comprises roads, metro rails, transmission and ports, Jalan said.
Revenue from the electrical energy segment fell to Rs 1,325.8 crore from Rs 1,484.39 crore in same period last year.
The Board declared a dividend of Rs 7.10 per share, which amounts to a pay-out of Rs 174 crore in FY 10.
On a stand-alone basis, Reliance Infra achieved an aggregate sales of electrical energy at 10,162-million units in the last fiscal against 9,581-million units in the previous year.
The company's stand-alone net profit was marginally up at Rs 1,151 crore in FY'10 from Rs 1,138.88 crore in the previous year. Total income during the fiscal improved to Rs 10,027.26 crore against Rs 9,868.61 crore in the previous year.