RInfra net flat at Rs 415 crore

Written by Press Trust of India | New Delhi | Updated: Jul 31 2013, 05:37am hrs
Reliance Infrastructure on Tuesday reported a marginal growth in net profit at R415 crore for the quarter ended June. The company had reported a net profit of R412 crore in the corresponding quarter of previous year.

The operations of Reliance Metro Airport Line in Delhi (23 km and six stations) were handed over to Delhi Metro Railway Corporation (DMRC) with effect from July, Reliance Infrastructure said.

The termination was owing to DMRCs failure to cure substantial defects in civil structure designed and built by them and on account of material breach and event of default, the company said.

It added that the claims for termination payment are fully justified and enforceable and the company is confident of receiving the entire investment in Delhi Airport Metro Express (DAMEPL).

Total income of the company stood at R5,452 crore against R5,383 crore in the corresponding quarter of previous year, it said.

Reliance Infrastructures road projects earned a revenue to the tune of R162 crore in first quarter of the current fiscal, the statement said. The companys order-book for the EPC (engineering, procurement and construction) business stood at R8,890 crore as on June 30, 2013.