Reliance Infrastructure net loss at Rs 288 crore in April-June quarter

Reliance Infrastructure on Thursday reported a consolidated net loss of Rs 288.41 crore for the quarter ended June 30. The company had clocked a consolidated net profit of Rs 299 crore in the corresponding quarter of the previous fiscal, the company said in a statement.

Its total consolidated income during the quarter under review declined to Rs 4,453 crore as against Rs 6,080 crore in the corresponding quarter a year ago.

The company said it has assets of over Rs 66,800 crore and net worth of Rs 9,500 crore.

“The company has Rs 60,000 crore of recievables pending for as many as 5-10 years before various forums including regulatory and arbitrary tribunal,” it said, adding it continues to provide essential services and diligently work towards achieving milestone even in current COVID-19 scenario.
About operational performance during the quarter it said BSES discoms efficiently serviced peak demand of 4,222 MW to 43.8 lakh consumers.

RInfra also said it has a strong order book of Rs 27,400 crore as on June 30, 2020 and Delhi Agra (DA) toll road sale for Enterprise Value of Rs 3,600 crore to Cube Highways and Infrastructure III Pte Ltd is on track for closure.

RInfra is engaged in 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 Defence sector.

The firm 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; ten road projects on build, operate and transfer (BOT) basis.

It is also a leading utility company having presence across the value chain of power businesses — generation, transmission and distribution.

-Moneycontrol