RInfra Q3 net profit rises 26 percent

New Delhi, Feb 6: Reliance Infrastructure (RInfra) Thursday announced a 26 percent rise in net profit at Rs.450 crore in the third quarter ending December against Rs.357 crore in the corresponding quarter of previous fiscal.

The company’s total income, however, declined quarter on quarter to Rs.4,218 crore from Rs.5,602 crore in the corresponding quarter of previous year.

As on Dec 31, 2013, the consolidated networth of the company stood at Rs.26,622 crore and is conservatively financed with debt to equity of 0.78, RInfra said.

Among the highlights for the quarter was the firm’s recovery of Rs.228 crore arrears, while the Maharashtra Electricity Regulatory Commission (MERC) approved arrears of Rs.925 crore per annum for 6 years.

For the company’s Delhi distribution business, the regulator DERC has approved 7 percent surcharge on tariffs by with effect from Feb 1.

Its Delhi discoms have added 27,000 new consumers during the quarter for a total consumer base of 3.34 million, RInfra said.

RInfra stock closed Thursday at Rs.361.60 a share, 1.95 points, or 0.54 percent higher than its previous close on the Bombay Stock Exchange (BSE).