RInfra Q2 profit slips 49% to Rs277 crore
Reliance Infrastructure posts a 49% decline in its consolidated net profit to Rs277.19 crore for second quarter as against Rs543.8 crore in the year-ago period
New Delhi: Anil Ambani-led Reliance Infrastructure (RInfra) has posted a 49% decline in its consolidated net profit to Rs277.19 crore for the quarter ended September 2018.
The company had posted a consolidated net profit of Rs543.8 crore in the year-ago period, RInfra had said in a filing to the BSE on Wednesday.
However, the company’s consolidated income increased to Rs7,207.3 crore in the July-September quarter, over Rs5,898.7 crore in the year-ago period.
RInfra is a leading infrastructure company, developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and the defence sector.
RInfra through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; eleven road projects with total length of about 1,000 kms on the build-operate-transfer (BOT) basis.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.