Reliance Infrastructure's (R-Infra) net profit for Q4 ended March 31 fell by 26% to Rs 459 crore against Rs 621 crore of the corresponding period last year on the back of increase in power purchase cost and also due to losses in Mumbai Metro and cement business.
The net income from power business fell by 13.5% to Rs 3,112.40 crore against Rs 3,600.44 crore while income from EPC and contracts business also decreased by 5% to Rs 837.18 crore against Rs 882.81 crore. Further, the cost of power purchase sharply increased by 13% to Rs 2,112.48 crore from Rs 1,864.89.
The company said that its net profit in Q4 FY15 excluding the loss in Mumbai metro and cement business was Rs 584 crore, an increase of 19% over prior period. Also the Q4 FY 2014 result had an one off gain of Rs 130 crore.
The company's Mumbai Metro division made a loss of Rs 70 crore and cement business made a loss of Rs 55 crore.
On a stand alone basis the company made a profit of Rs 449 crore, which is 10% lower than same period last year. However, analysts had estimated a 20% decline in the stand alone profit.
The company has presence in various segments of infrastructure sector, including roads, EPC, metro rail, airports, power generation, transmission and distribution. The company has proposed dividend of Rs 8 per share.
For the full year 2014-15, the net profit decreased to Rs 1,800 crore against Rs 1,914 crore after Mumbai Metro loss of Rs 191 crore and cement loss of Rs 115 crore. The total income fell to Rs 18,852 crore against Rs 20,274 crore.
As far company's distribution business is concerned, the company in Mumbai distribution area has recovered arrears of Rs 884 crore in FY15 and also Rs 226 crore towards cross subsidy surcharge and added 66,300 new consumers.
As on date the company has a consumer base of 2.94 million in Mumbai licence area.
It has generated 4,100 million units from Dahanu thermal power station. The share of the company today fell by 1.48% to Rs 421.90 from the previous close of Rs 428.25.
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