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1st Quarter Results Standalone

16th Aug 2012 12:02

RNS Number : 1730K

Reliance Infrastructure Limited

16 August 2012


RELIANCE INFRASTRUCTURE LIMITED
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710
website:www.rinfra.com

Statement of Financial Results for the quarter ended June 30, 2012
	Part - I							Rs. crore
Sr. No.	Particulars	3 Months ended						Year ended
		30-Jun-12			31-Mar-12		30-Jun-11	31-Mar-12
		(Unaudited)			(Unaudited)		(Unaudited)	(Audited)
1	Income from Operations
	(a) Net Sales / Income from Electricity Business	1,638.33			1,291.68		1,509.69	5,675.31
	(b) Income from EPC and Contracts Business	1,774.94			4,382.27		1,884.86	11,678.14
	(c) Other Operating Income	34.01			57.61		296.48	553.22
	Total Income from Operations	3,447.28			5,731.56		3,691.03	17,906.67
2	Expenses
	(a) Cost of Electrical Energy purchased	685.15			546.57		700.57	2,459.17
	(b) Cost of Fuel	417.28			408.08		403.33	1,548.67
	(c) Construction Materials Consumed and
	Sub-contracting Charges	1,471.80			3,884.03		1,502.58	9,737.69
	(d) Employee benefits expense	243.89			136.16		211.10	740.48
	(e) Depreciation and amortisation	113.04			73.55		68.93	267.77
	(f) Other Expenses	169.34			139.41		174.92	745.77
	Total Expenses	3,100.50			5,187.80		3,061.43	15,499.55
3	Profit from operations before Other Income (net), finance cost and exceptional items	346.78			543.76		629.60	2,407.12
4	Other Income (net)	258.62			168.47		109.26	658.74
5	Profit from Ordinary Activities before finance cost and exceptional items	605.40			712.23		738.86	3,065.86
6	Finance Costs	190.18			183.21		59.37	568.10
7	Profit from Ordinary Activities before exceptional items	415.22			529.02		679.49	2,497.76
8	Exceptional Items	-			-		-	-
9	Profit from Ordinary Activities before tax	415.22			529.02		679.49	2,497.76
10	Tax Expenses (including Deferred Tax & Tax for earlier years)				(129.16)		249.00	497.50
11	Profit after Tax	327.02			658.18		430.49	2,000.26
12	Paid-up Equity Share Capital (Face Value of Rs. 10 per Share)	263.03			263.03		265.36	263.03
13	Reserves including Statutory Reserves excluding Revaluation Reserves							17,773.36
14	Earnings Per Share (* not annualised)
	(a) Basic (Rs.)	12.43*		25.03*		16.17*		75.70
	(b) Diluted (Rs.)	12.43*		25.03*		16.17*		75.70
	Part - II Selected Information for the quarter ended June 30, 2012
A	Particulars of Shareholding
1	Public Shareholding
	- Number of Shares	135,363,010			135,363,010		137,691,616	135,363,010
	- Percentage of Shareholding	51.47			51.47		51.90	51.47
2	Promoter and promoter group shareholding
	a) Pledged/Encumbered
	- Number of shares	-			-		-	-
	- Percentage of shares (as a % of the total shareholding	-			-		-	-
	of promoter and promoter group)
	- Percentage of shares (as a % of the total share capital of the Company)				-		-	-
	b) Non-encumbered
	- Number of shares		127,626,990		127,626,990		127,628,646	127,626,990
	- Percentage of shares (as a % of the total shareholding		100.00		100.00		100.00	100.00
	of promoter and promoter group)
	- Percentage of shares (as a % of the total share capital of the Company) 48.53				48.53		48.10	48.53
B	Investor Complaints		3 months ended June 30, 2012
	Pending at the beginning of the quarter			NIL
	Received during the quarter			28
	Disposed of during the quarter			28
	Remaining unresolved at the end of quarter			NIL


RELIANCE INFRASTRUCTURE LIMITED
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710
website:www.rinfra.com

Segment-wise Revenue, Results and Capital Employed

								Rs. crore
Sr. No.	Particulars	3 Months ended						Year ended
		30-Jun-12			31-Mar-12		30-Jun-11	31-Mar-12
		(Unaudited)			(Unaudited)		(Unaudited)	(Audited)
1	Segment Revenue
	- Electricity Business	1,657.29			1,345.02		1,802.23	6,217.80
	- EPC and Contracts Business	1,789.99			4,386.54		1,888.80	11,688.87
	Total	3,447.28			5,731.56		3,691.03	17,906.67
	Less : Inter Segment Revenue	-			-		-	-
	Net Sales / Income from Operations	3,447.28			5,731.56		3,691.03	17,906.67

2	Segment Results
	Profit before Tax and Interest from each segment :
	- Electricity Business	179.75			120.80		382.63	1,063.25
	- EPC and Contracts Business	185.11			456.92		255.76	1,480.82
	Total	364.86			577.72		638.39	2,544.07

	- Finance Costs	(190.18)			(183.21)		(59.37)	(568.10)
	- Interest Income	194.57			201.68		47.71	513.99
	- Other un-allocable Income net of expenditure	45.97			(67.17)		52.76	7.80
	Profit before Tax	415.22			529.02		679.49	2,497.76

3	Capital Employed

	- Electricity Business	7,277.73			7,248.12		6,754.25	7,248.12
	- EPC and Contracts Business	3,712.51			2,803.95		1,824.86	2,803.95
	- Unallocated Assets (net)	7,822.33			8,488.81		9,387.91	8,488.81
	Total	18,812.57			18,540.88		17,967.02	18,540.88

Notes:

1. The final determination in the matter of Standby Charges payable for the years 1998-99 to 2003-04 to The Tata Power Company Limited (TPC) is pending before the Supreme Court for final hearing. The Company has so far fully accounted the liability of Rs. 515.60 crore as determined earlier by Maharashtra Electricity Regulatory Commission (MERC).

2. The final determination in respect of the claim by TPC of Rs. 323.87 crore, along with interest based on the Orders passed by MERC / Appellate Tribunal for Electricity (ATE) towards difference in energy charge and minimum offtake charges for energy supplied by TPC at 220 kV interconnection is pending before Supreme Court for final hearing. The Company has complied with the interim order direction of depositing Rs. 25 crore with the Registrar of Supreme Court and providing a Bank Guarantee of Rs. 9.98 crore.

3. Pursuant to the Scheme of Amalgamation of Reliance Infraprojects Limited sanctioned by the Hon'ble High Court of Judicature at Bombay vide its order dated March 30, 2011,derivative losses / gains for the year debited / credited to Statement of Profit and Loss may be withdrawn from / transferred to General Reserve. The loss for the quarter ended June 30, 2012 arising from derivative contracts is Rs. 51.17 crore. The Company has decided to give impact of the said derivative loss and its corresponding adjustment in terms of the Scheme by withdrawal from General Reserve in Statement of Profit and Loss at the year end.

4. The Company has opted for amortising the foreign exchange fluctuation gain / (loss) on the long term foreign currency monetary items over the balance life of such items. Accordingly, the Company has carried forward unamortised portion of net gain of Rs.195 crore to "Foreign Currency Monetary Items Translation Difference Account" as on June 30, 2012.

5. The Board of Directors of the Company in their meeting held on August 14, 2012 has approved the Scheme of Amalgamation of wholly owned subsidiaries of the Company viz. Reliance Bhavnagar Power Private Limited, Reliance Jamnagar Power Private Limited and Reliance Infrastructure Engineers Private Limited with the Company.

6. During the quarter, the Company has disposed of its majority shareholding in its subsidiary Delhi Airport Metro Express Private Limited.

7. After review by the Audit Committee, the Board of Directors of the Company has approved the Standalone financial results at their meeting held on August 14, 2012.The statutory auditors have carried out a limited review of the financial results of the Company, as per listing agreement entered into with the stock exchanges in India.

8. There were no exceptional and extraordinary items during the quarter ended June 30, 2012.

9. Figures of the previous period / year have been regrouped / reclassified wherever considered necessary.

For and on behalf of the Board of Directors

Place: Mumbai Anil D. Ambani

Date: August 14, 2012 Chairman

This information is provided by RNS

The company news service from the London Stock Exchange

END

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