R-Infra Q3 Results: Consolidated profit up by 18% of Rs 346 crore
Reliance Infra Q3 Results: Reliance Infrastructure Limited (R-Infra) previously known as Reliance Energy Limited (REL) and Bombay Suburban Electric Supply (BSES). It is a private sector company provide services to power generation, infrastructure, construction, and defense. The company founded by Anil Ambani Chairman and Chief Executive Officer Punit Garg located in Mumbai.
R-Infra Q3 Results:
The company on Friday posted an 18% increase in its standalone profit of Rs 345.51 crore for the period ended in December. However, the company also posted its consolidated net profit of Rs 293.77 crore for the same quarter last financial year.
The company’s total revenue growth from operations during the quarter at Rs 4,527.37 crore compared to Rs 4,534.42 crore in the same quarter last fiscal year. Whereas, the company total expenses raised to Rs 4,888.79 crore compared to Rs 4,772.46 crore in the last year.
The operations performed by the company during the October-December 2019 quarter. It builds almost 55,000 new houses near Delhi as against total number of houses 43.5 lakh. The companies revenue for Q3 at Rs 303 crore for Road projects, Mumbai metro, etc. The company’s previous year’s revenue was at Rs 91 crore.
The company has a strong growth in engineering and construction with a pre-booking cost of Rs 28,000 crore. Recently, the company won an arbitration award of Rs 1,250 crore as against Damodar Valley Corporation for 2X600 MW Raghunathpur Thermal Power Project in West Bengal.
The company is planning to sell its Delhi-Agra toll road with a value of Rs 3,600 crore to Cube Highways and Infrastructure III Pvt Ltd.
The stock market on Friday was bearish for the company. In NSE it reduced 1.35 points with a 6.47% decrease and reached 19.50 INR. Whereas in BSE, the company reduced 1.35 points with a 6.47% decrease and reached 19.50 INR.