Reliance Infra posts Rs 95-crore loss for April-June quarter

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Updated: August 10, 2021 9:01 PM

The company had clocked a consolidated net loss of Rs 288.41 crore in the corresponding quarter of the previous fiscal, it said in a regulatory filing to the BSE.

reliance infraTotal expenditure also rose to Rs 5,208.75 crore during the quarter under review as against Rs 4,748.54 crore in the year-ago period

Reliance Infrastructure (RInfra) on Tuesday reported a consolidated net loss of Rs 95.15 crore for the quarter ended on June 30, 2021.

The company had reported a consolidated net loss of Rs 288.41 crore in the corresponding quarter of the previous fiscal, it said in a regulatory filing to the BSE.

Its total consolidated income during the quarter under review rose to Rs 4,623.17 crore as against Rs 3,786.85 crore in the corresponding quarter a year ago.

Total expenditure also rose to Rs 5,208.75 crore during the quarter under review as against Rs 4,748.54 crore in the year-ago period.

The company said Mumbai Metro One Private Limited (MMOPL) net worth has eroded, and its current liabilities exceeded its current assets.

“MMOPL is taking a number of steps to improve overall commercial viability which will result in an improvement in cash flows and enable the company to meet its financial obligations,” it said.

The company in a statement said that it aims to repay 100 per cent debt of Indian lenders by the end of financial year March 2022 based on liquidity events.

The statement added that shareholding of Reliance Infrastructure and promoter group in Reliance Power stands increased to 24.98 per cent and promoter group shareholding may further increase to 38.24 per cent post conversion of warrants.

Reliance Infrastructure is engaged in developing projects through various Special Purpose Vehicles (SPVs) in several sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.

Reliance Infrastructure 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; nine road projects on build, operate and transfer (BOT) basis.

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