Thursday, July 30, 2009

Reliance Infrastructure net up 25 percent

Power utility and infrastructure major Reliance Infrastructure, part of the Anil Dhirubhai Ambani Group, Thursday posted 25 percent increase in net profit to Rs.317 crore ($66 million) for the quarter ended June 30.

The company's total income increased 7 percent to Rs.2,446.3 crore in the first quarter of the current fiscal, compared to Rs.2,290.29 crore in the same quarter a year ago.

While the electrical energy division contributed Rs.1,880.49 crore to the total income, the engineering and construction segment accounted for Rs.565.84 crore.

Reliance Infrastructure, which has interests in areas spanning power generation, distribution, cement, ports and airports as well as roads and highways, has an order book position of Rs.20,075 crore.

Earnings per share stood at Rs.58 per share in the first quarter as against Rs.43.2 in the corresponding period last year. The company's net worth on a stand-alone basis stood at Rs.12,172 crore.

Reliance Infrastructure has firmed up plans for a major foray into cement production and expansion of airports across the country, the company said.

The group has emerged as the highest bidder for the privatisation of all five regional airports in Maharashtra at Nanded, Latur, Yavatmal, Baramati and Osmanabad.

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