Despite robust operating income, the second quarter consolidated net profit of Reliance Infrastructure (RInfra) remained flat due to foreign exchange losses of R57 crore, initial losses in Delhi Metro project and delay in other infrastructure projects achieving break even. The net profit for the quarter ended September 30 was R362 crore against R360 crore in the year ago period.

Income from operations of the company rose by 40% to R5,549 crore against R3,967 crore last year on higher revenues from EPC and infrastructure businesses.

While revenues from engineering, procurement, and construction or EPC increased to R2,212 crore against R712 last year, revenues from infrastructure increased to R77 crore against R13 crore.

The total income of the company increased by 144% to R5,729 crore in the quarter under review from R3,969 crore last year.

The company is developing 12 road projects of around 1,000 km worth R16,500 crore. Of this, four projects are already operational and additional six road projects would start generating revenue in FY12.

Revenues from Delhi Metro project were also up with the increase in numbers of daily commuters to 18,000 passengers on a daily basis from 12,000 in first quarter. Retail and advertising also form a part of RInfra?s earnings in metro project. On the retail side, the company has 1.5 lakh sq ft of space equally spread between two stations in Connaught Place and New Delhi metro stations. In the second quarter, RInfra booked almost 30,000 sq ft area of retail deals and is expected an earning of R100 crore on retail on an annual basis and R30-35 crore from advertising.

The company has an orderbook position of R25,000 crore as on September 30, 2011. ?Our execution guidance on EPC projects in on track, where we expect around R10,000 crore of revenues during the year,? said, Lalit Jalan, CEO, RInfra. R Infra?s total debt on consolidated basis stood at R14,980 crore. The debt to equity ratio was 0.61:1 as on September 30, 2011. Reliance Infrastructure?s share price closed up 3.81% on Tuesday at R475.50 on Bombay Stock Exchange.