Reliance Infrastructure posts 12% jump in Q2 net

Reliance Infrastructure today reported 12 per cent increase in its consolidated net profit at Rs 427 crore for the quarter ended September 30, 2013.

The company had posted a net profit of Rs 382 crore in the corresponding quarter of previous year (2012-13), Reliance Infrastructure said in a statement.

Total income of the company dropped to Rs 5,273 crore from Rs 5,798 crore in the corresponding period of the last financial year (2012-13).

On a standalone basis, the net profit of the company for the quarter ended September 30, 2013 declined over 16 per cent at Rs 345.82 crore, said its BSE filing.

The company had posted a net profit of Rs 414.13 crore in the same period, last fiscal (2012-13).

Total income from operations decreased to Rs 2,831.80 crore from Rs 3,500.22 crore in the corresponding period of the last financial year (2012-13).

Reliance Infra is engaged in several areas in the infrastructure sector ie roads, metro rail, cement and airports.

During the quarter, the company said it earned revenues to the tune of Rs 159 crore from its road projects "Reliance Metro Rail Line in Mumbai is sceduled to be commissioned within the current financial year," the company said in a statement.

Trial runs being conducted regularly on the entire Versova-Andheri-Ghatkopar corridor, the statement added.

The company's first 5 million tonnes per annum cement plant in Madhya Pradesh will start commercial production by
this month end, it said.

Shares of the company closed at Rs 440.95 apiece, down 2.14 per cent on the BSE.