Reliance Infras net profit rises by 7% to Rs 439 crore

Anil Ambani-backed Reliance Infrastructure reported consolidated net profit of Rs 438.80 crore for the June quarter ended 2016 (Q1FY17), registering a rise of 7.21% from Rs 409.27 crore in the similar quarter of the previous year.

Consolidated total income from operation stood at Rs 7098.59 crore, up by 2.78% versus Rs 6906.50 crore a year ago same period.

While operating profit (EBITDA – earnings before interest tax depreciation and amortization) was at Rs 1209.92 crore in Q1FY17, increasing by 26.83% year-on-year (yoy). It's operating profit margin witnessed at 17.04%, expanding by 323 basis points yoy.

On standalone front, the company's net profit of Rs 397.23 crore, increased by 7.66% yoy. While total income was at Rs 2517.15 crore, up by 2.97% yoy.

Standalone operating profit stood at Rs 622.78 crore, recorded rise of 35.68% yoy. It's operating profit margin was at 24.74%, expanded by 597 bps yoy.

The top-line and bottom-line turned positive on the back of strong EBITDA and margins on both consolidated and standalone front.

Revenue was also positive in power business and Infrastructure business.

On segment wise revenue break-up, the Power business contributed growth of 3.46% yoy to Rs 5895.88 crore during this quarter. While Infrastructure business increased by 24.12% yoy to Rs 314.12 crore compared to Q1FY16.

It was only EPC and contract business that couldn't fare well in this quarter. It recorded Rs 723.17% crore, a decline of 32.26% from Rs 1067.61 crore in June 2015.

As on June 30, 2016, the consolidated Networth of the Company stood at ` 25,920 crore and is conservatively financed with debt to equity of 1.3x  

Shares of Reliance Infrastructure closed at Rs 577.45, down by 6.46%.