Reliance Infra profit drops 6% in FY18, revenues rise 3%

By: | Published: April 24, 2018 6:01 AM

Reliance Infrastructure (RInfra) on Monday reported a 6% dip in net profit for FY18 to Rs 1,339 crore on account of losses in Reliance Naval and Engineering (RNaval) and in Mumbai Metro.

Reliance Infrastructure, Mumbai Metro, Ebitda, Rail Vikas Nigam, DMRC, DAMEPLRInfra’s current order book stands at Rs 20,500 crore across roads, power and metro projects.

Reliance Infrastructure (RInfra) on Monday reported a 6% dip in net profit for FY18 to Rs 1,339 crore on account of losses in Reliance Naval and Engineering (RNaval) and in Mumbai Metro. The total income was up 3% year-on-year (y-o-y) at Rs 28,724 crore, while earnings before interest, tax, depreciation and amortisation (Ebitda) increased 14% y-o-y to Rs 9,365 crore. For the fourth quarter ended March 31, 2018, the company fared better, posting a 292% jump in net profit to Rs 160.14 crore on an income growth of 12% y-o-y to Rs 6,737 crore, on the back of improved revenue from the company’s roads, metro and infrastructure businesses.

Ebitda was up 50% y-o-y to Rs 2,399 crore. RInfra’s current order book stands at Rs 20,500 crore across roads, power and metro projects. The company won its first railway contract worth Rs 774 crore from Rail Vikas Nigam (RVNL) earlier this April. RInfra also recently received an arbitration award in its favour of its subsidiary, Delhi Airport Metro Express (DAMEPL), against the Delhi Metro Rail Corporation (DMRC), worth Rs 5,300 crore, including interest. Till date, it has received Rs 306 crore from DMRC as immediate relief. The RInfra stock closed up 0.4% at Rs 449.85 on the BSE on Monday.

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