Home / Business / Reliance Infrastructure Q2 net profit increases 34% to Rs 571 crore

Reliance Infrastructure Q2 net profit increases 34% to Rs 571 crore

The net profit of Reliance Infrastructure (RInfra) raised by 33.8 percent at Rs 570.5 crore for the Q2 that ended in September 30, 2016.

In previous year’s quarter, the net profit of the company has touched Rs 426.3 crore, RInfra said in a filing to BSE.

The income of the company from the operations has dropped to Rs 6,972.8 crore in Q2 of this year while the previous year’s income was noticed Rs 7,560.8 crore.

“As on September 30, 2016, the consolidated networth of the company stood at Rs 28,148 crore with debt to equity of 0.95x,” the company said.

“The Mumbai distribution unit under its power business recovered Rs 221 crore arrears in Q2 FY17; Totally recovered Rs 2,709 crore till date,” company said.

During the second quarter of this year, the power was distributed to around 45,600 consumers.

The company added, “It signed binding term sheet with Adani Transmission Ltd for sale of three transmission assets i.e. WRSSS (B&C) and Parbati Koldam.  It further said, “All projects are commissioned and revenue generating.”

Talking about infrastructure, the company has received a revenue of Rs 237 crore in Q2 fiscal year 2017 17, an increase of 13 percent as compared to last year.

In July-September quarter, Mumbai Metro got the revenue of Rs 61 crore, a rise of 13 percent as compared to last year.

Also Read: Faster Grocery Shopping as Heritage Fresh Ties up with Freecharge

Also Read:  Aditya Birla Fashion and Retail Strikes a Deal with Global Luxury Brand `Ted Baker’

Also Read: German Automaker Volkswagen to unveil 15 models of Electric Cars

Also Read: Foreign Direct Investment increases 30% to USD 21.62 billion in first half of year 2016-17

Also Read: Google collaborated with ASI for Virtual tour of Monuments