14th Feb 2012 10:36
RELIANCE INFRASTRUCTURE LIMITED | ||||||||
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710 | ||||||||
website:www.rinfra.com | ||||||||
Unaudited Standalone Financial Results for the quarter and nine months ended December 31, 2011 | ||||||||
(Rs. crore) | ||||||||
Sr. No. | Particulars | Quarter ended | Nine months ended | Year ended | ||||
31-Dec-11 | 30-Sep-11 | 31-Dec-10 | 31-Dec-11 | 31-Dec-10 | 31-Mar-11 | |||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |||
1 | (a) Net Sales / Income from Electricity Business
| 1,495.96 | 1,340.37 | 1,442.86 | 4,322.33 | 4,599.33 | 5,878.77 | |
(b) Income from EPC and Contracts Business
| 2,980.11 | 2,430.90 | 1,142.76 | 7,295.87 | 2,575.80 | 3,586.99 | ||
(c) Other Operating Income (Refer Note 4)
| 1.66 | 179.27 | 3.27 | 470.78 | 7.93 | 16.53 | ||
Total Operating Income | 4,477.73 | 3,950.54 | 2,588.89 | 12,088.98 | 7,183.06 | 9,482.29 | ||
2 | Expenditure | |||||||
(a) Cost of Electrical Energy purchased
| 570.82 | 585.39 | 722.42 | 1,826.46 | 2,211.62 | 2,724.31 | ||
(b) Cost of Fuel
| 368.73 | 368.53 | 300.76 | 1,140.59 | 943.79 | 1,301.14 | ||
(c) Cost of Materials and Sub-contract Charges (EPC and Contracts Business) | 2,478.09 | 1,873.00 | 929.52 | 5,853.67 | 2,046.74 | 2,837.16 | ||
(d) Employees Cost
| 190.48 | 202.75 | 203.06 | 604.32 | 574.65 | 762.18 | ||
(e) Depreciation (Refer Note 4) | 61.46 | 63.84 | 81.67 | 194.22 | 241.07 | 313.41 | ||
(f) Other Expenditure
|
217.82 | 211.22 |
186.11 |
606.36 |
489.57 | 677.73 | ||
Total Expenditure
| 3,887.40 | 3,304.73 | 2,423.54 | 10,225.62 | 6,507.44 | 8,615.93 | ||
3 | Profit from operations before Other Income (net) and Interest
| 590.33 | 645.81 | 165.35 | 1,863.36 | 675.62 | 866.36 | |
4 | Other Income (net)
| 146.83 | 112.63 | 102.07 | 368.72 | 231.71 | 511.14 | |
5 | Profit before Interest
| 737.16 | 758.44 | 267.42 | 2,232.08 | 907.33 | 1,377.50 | |
6 | Interest and Finance Charges
| 123.12 | 83.26 | 58.20 | 263.34 | 179.55 | 242.45 | |
7 | Profit from Ordinary Activities before Tax
| 614.04 | 675.18 | 209.22 | 1,968.74 | 727.78 | 1,135.05 | |
8 | Tax Expenses | |||||||
- Current Tax | 153.00 | 105.10 | 37.00 | 378.10 | 142.08 | 227.15 | ||
- Deferred Tax (net) | 45.22 | 74.34 | 6.50 | 248.56 | 26.80 | (58.68) | ||
- Tax adjustment for earlier years (net) | - | - | - | - | (23.55) | (114.33) | ||
9 |
Profit after Tax |
415.82 | 495.74 |
165.72 |
1,342.08 |
582.45 | 1,080.91
| |
10 | Paid-up Equity Share Capital (Face Value of Rs. 10 per Share)
| 263.08 | 263.57 | 244.92 | 263.08 | 244.92 | 267.47 | |
11 | Reserves including Statutory Reserves excluding Revaluation Reserves
| 16,918.16 | ||||||
12 | Earnings Per Share (*not annualised) | |||||||
(a) Basic (Rs.) |
15.80* |
18.84* |
6.77* |
50.71* |
23.79* |
43.23 | ||
(b) Diluted (Rs.) | 15.80* | 18.84* | 6.71* | 50.71* | 23.59* | 40.51 | ||
13 | Aggregate of Public Shareholding
|
| ||||||
- Number of Shares |
| 135,408,272 | 135,893,272 | 139,791,616 | 135,408,272 | 139,791,616 | 139,791,616 | |
- Percentage of Shareholding | 51.48 | 51.57 | 57.09 | 51.48 | 57.09 | 52.27 | ||
14 | 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 | 105,078,646 | 127,626,990 |
105,078,646 |
127,628,646 | ||
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | ||
- Percentage of shares (as a % of the total share capital of the Company) | 48.43 | 42.91 | 48.52 | 42.91 | 47.73 | |||
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 | Quarter ended | Nine months ended | Year ended | |||||
31-Dec-11 | 30-Sep-11 | 31-Dec-10 | 31-Dec-11 | 31-Dec-10 | 31-Mar-11 | ||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||||
1 | Segment Revenue | ||||||||
- Electricity Business | 1,496.21 | 1,518.53 | 1,444.90 | 4,786.65 | 4,605.25 | 5,891.77 | |||
- EPC and Contracts Business | 2,981.52 | 2,432.01 | 1,143.99 | 7,302.33 | 2,577.81 | 3,590.52 | |||
Total | 4,477.73 | 3,950.54 | 2,588.89 | 12,088.98 | 7,183.06 | 9,482.29 | |||
Less : Inter Segment Revenue | - | - | - | - | - | - | |||
Net Sales / Income from Operations | 4,477.73 | 3,950.54 | 2,588.89 | 12,088.98 | 7,183.06 | 9,482.29 | |||
2 | Segment Results | ||||||||
Profit before Tax and Interest from each segment : | |||||||||
- Electricity Business | 280.35 | 279.45 | 75.93 | 942.44 | 452.88 | 552.75 | |||
- EPC and Contracts Business | 355.31 | 412.83 | 98.56 | 1,023.90 | 247.25 | 374.30 | |||
Total | 635.66 | 692.28 | 174.49 | 1,966.34 | 700.13 | 927.05 | |||
- | - | - | - | - | - | ||||
- Interest and Finance Charges | (123.12) | (83.26) | (58.20) | (263.34) | (179.55) | (242.45) | |||
- Interest Income | 139.37 | 125.24 | 80.25 | 312.31 | 237.69 | 396.24 | |||
- Other un-allocable Income net of expenditure | (37.87) | (59.08) | 12.68 | (46.57) | (30.49) | 54.21 | |||
Profit before Tax | 614.04 | 675.18 | 209.22 | 1,968.74 | 727.78 | 1,135.05 | |||
3 | Capital Employed | ||||||||
- Electricity Business | 7,105.32 | 6,873.78 | 6,162.32 | 7,105.32 | 6,162.32 | 6,494.56 | |||
- EPC and Contracts Business | 3,535.04 | 2,745.18 | 620.78 | 3,535.04 | 620.78 | 506.20 | |||
- Unallocated Assets (net) | 8,189.63 | 8,819.40 | 8,924.59 | 8,189.63 | 8,924.59 | 10,666.75 | |||
Total | 18,829.99 | 18,438.36 | 15,707.69 | 18,829.99 | 15,707.69 | 17,667.51 | |||
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 approval of the Board of Directors for buy-back of Equity shares under Section 77A of the Companies Act, 1956, the Company bought-back 4,85,000 equity shares during the quarter ended December 31, 2011. Consequently the paid-up capital stands reduced to Rs. 263.04 crore. Out of the above 35,000 shares have been extinguished subsequently on January 5, 2012.
4. Pursuant to the clarification provided by the Ministry of Corporate Affairs vide circular dated May 31, 2011 and based on the legal opinion obtained, the Company has provided for depreciation in respect of its electricity business following the rates as well as methodology notified by the Electricity Regulators retrospectively w.e.f April 1, 2009 as against Schedule XIV to the Companies Act, 1956 during the quarter ended June 30, 2011. Accordingly, depreciation of Rs. 227.18 crore for the years 2009-10 and 2010-11 was written back during the quarter ended June 30, 2011 and included in other operating income. Similarly, the depreciation charge for the current quarter and nine months ended December 31, 2011 is lower and profit before tax is higher by Rs.13.70 crore and Rs.30.73 crore respectively on account of such change.
5. Information on investor complaints pursuant to Clause 41 of the listing agreement for the quarter ended December 31, 2011: opening: Nil; additions: 09; disposals: 09; closing: Nil.
6. There were no exceptional / extraordinary items during the quarter ended December 31, 2011.
7. After review by the Audit Committee, the Board of Directors of the Company have approved the Standalone financial results at their meeting held on February 14, 2012.
8. Figures of the previous period / year have been regrouped / reclassified wherever considered necessary.
9. There has not been any significant change in or any special factor influencing the business activities of the Company during the quarter ended December 31, 2011 except as specifically mentioned in the above Notes.
For and on behalf of the Board of Directors
Place: Mumbai Anil D. Ambani
Date: February 14, 2012 Chairman
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Reliance Inf S