During the quarter under review, Reliance Infra’s consolidated net profit tumbled over 50% to Rs 1,911 crore, sharply lower from Rs 4,082 crore it reported in the same quarter of the previous fiscal year. The company’s revenue from operations also witnessed a decline of 14% to Rs 6,235 crore versus Rs 7,258.50 crore clocked in the corresponding quarter of the previous financial year.
As for the revenue split, power business remained the mainstay, generating Rs 5,434 crore in the quarter ended September 30. The infrastructure business generated Rs 351 crore in revenue, higher than Rs 335 crore it generated in the same quarter last year, the company’s press release showed. The engineering and construction business was flat at about Rs 61 crore.
For the first half, the revenue from operations edged lower at Rs 12,143 crore, down 16% on-year from Rs 14,451 crore it posted in the first two quarters of the previous financial year. Net profit over the same period came in at Rs 1,971 crore, down over 40% from Rs 3,849 crore year-on-year.
Reliance Infrastructure is involved in engineering and construction (E&C) for large-scale infrastructure projects like power, roads, and metro rail. It is also a utility company with operations in power generation, transmission, and distribution.
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At about 9:45 am, shares of the company were trading at Rs 181, higher by 4.2% from the last close on the NSE. Reliance Infrastructure shares are down over 40% on a year-to-date basis, and have slipped 30% in the last 6 months.
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