Reliance Infra Q2 net up 5% at Rs 451 crore

MUMBAI: Reliance Infrastructure reported a net profit of Rs 451 crore in the second quarter of 2015-16, up 5% year-on-year dented by losses made in its Mumbai Metro and cement business.

The company’s total Income increased 8% on year Rs 4,841 crore.

The company said that the Mumbai Metro and Cement incurred losses of Rs 49 crore and Rs 50 crore, respectively.

In its roads business, the company reported revenue of Rs 158 crore in the September quarter, an increase of 8% year-on-year. The company said that 10 out of 11 road projects are revenue generating while the last project would be operational in third quarter of FY16.

The company’s Dahanu Thermal Power Station generated 1,023 million units in Q2FY16. The company said it added 16,300 new consumers in the Mumbai power distribution circle.

The company’s engineering, procurement and construction business clocked revenue of Rs 682 crore, an increase of 18% on year driven by strong execution. The order book was worth Rs 3,876 crore as on September 30, 2015.

Separately, the company informed the bourses that it is changing the profile to focus on defence and by exiting other businesses like cement manufacturing and road development.