1st Feb 2013 11:21
RELIANCE INFRASTRUCTURE LIMITED |
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Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710 |
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website:www.rinfra.com | ||||||||||||||
Standalone Statement of Financial Results for the quarter and nine months ended December 31, 2012 |
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Part - I | Rs. crore | |||||||||||||
Sr. No. | Particulars | Quarter ended | Nine months ended | Year ended | ||||||||||
31-12-2012 | 30-09-2012 | 31-12-2011 | 31-12-2012 | 31-12-2011 | 31-03-2012 | |||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |||||||||
1 | Income from Operations | |||||||||||||
(a) Net Sales / Income from Electricity Business | 1,516.30 | 1,569.58 | 1,519.50 | 4,724.21 | 4,393.04 | 5,675.31 | ||||||||
(b) Income from EPC and Contracts Business | 1,926.01 | 1,918.40 | 2,980.11 | 5,619.35 | 7,295.87 | 11,678.14 | ||||||||
(c) Other Operating Income | 12.90 | 12.24 | 7.63 | 59.15 | 487.36 | 553.22 | ||||||||
Total Income from Operations | 3,455.21 | 3,500.22 | 4,507.24 | 10,402.71 | 12,176.27 | 17,906.67 | ||||||||
2 | Expenses | |||||||||||||
(a) Cost of Electrical Energy purchased | 598.40 | 646.20 | 600.33 | 1,929.75 | 1,913.75 | 2,459.17 | ||||||||
(b) Cost of Fuel | 379.63 | 373.69 | 368.73 | 1,170.60 | 1,140.59 | 1,548.67 | ||||||||
(c) Construction Materials Consumed and | ||||||||||||||
Sub-contracting Charges | 1,620.99 | 1,634.81 | 2,478.09 | 4,727.60 | 5,853.67 | 9,737.69 | ||||||||
(d) Employee benefits expense | 197.87 | 192.45 | 190.48 | 634.21 | 604.32 | 740.48 | ||||||||
(e) Depreciation and amortisation (Refer Note 5) | 97.99 | 92.19 | 61.47 | 303.22 | 194.22 | 267.77 | ||||||||
(f) Other Expenses | 168.50 | 199.55 | 214.88 | 537.39 | 599.27 | 745.77 | ||||||||
Total Expenses | 3,063.38 | 3,138.89 | 3,913.98 | 9,302.77 | 10,305.82 | 15,499.55 | ||||||||
3 | Profit from operations before Other Income (net), finance cost and exceptional items | 391.83 | 361.33 | 593.26 | 1,099.94 | 1,870.45 | 2,407.12 | |||||||
4 | Other Income (net) | 243.33 | 345.67 | 146.83 | 847.62 | 368.72 | 658.74 | |||||||
5 | Profit from Ordinary Activities before finance cost and exceptional items | 635.16 | 707.00 | 740.09 | 1,947.56 | 2,239.17 | 3,065.86 | |||||||
6 | Finance Costs | 205.47 | 198.02 | 126.05 | 593.67 | 270.43 | 568.10 | |||||||
7 | Profit from Ordinary Activities before exceptional items | 429.69 | 508.98 | 614.04 | 1,353.89 | 1,968.74 | 2,497.76 | |||||||
8 | Exceptional Items (Refer Note 6) | 418.34 | - | - | 418.34 | - | - | |||||||
9 | Profit from Ordinary Activities before tax | 848.03 | 508.98 | 614.04 | 1,772.23 | 1,968.74 | 2,497.76 | |||||||
10 | Tax Expenses (including Deferred Tax & Tax for earlier years) | 188.66 | 94.85 | 198.22 | 371.71 | 626.66 | 497.50 | |||||||
11 | Profit after Tax | 659.37 | 414.13 | 415.82 | 1,400.52 | 1,342.08 | 2,000.26 | |||||||
12 | Paid-up Equity Share Capital (Face Value of Rs. 10 per Share) | 263.03 | 263.03 | 263.08 | 263.03 | 263.08 | 263.03 | |||||||
13 | Reserves including Statutory Reserves excluding Revaluation Reserves | 17,773.36 | ||||||||||||
14 | Earnings Per Share (* not annualised) | |||||||||||||
(a) Basic (Rs.) | 25.07* | 15.75* | 15.80* | 53.25* | 50.71* | 75.70 | ||||||||
(b) Diluted (Rs.) | 25.07* | 15.75* | 15.80* | 53.25* | 50.71* | 75.70 | ||||||||
Part - II Selected Information for the quarter ended December 31, 2012 | ||||||||||||||
A | Particulars of Shareholding | |||||||||||||
1 | Public Shareholding | |||||||||||||
- Number of Shares | 135,363,010 | 135,363,010 | 135,408,272 | 135,363,010 | 135,408,272 | 135,363,010 | ||||||||
- Percentage of Shareholding | 51.47 | 51.47 | 51.48 | 51.47 | 51.48 | 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 | 127,626,990 | 127,626,990 | 127,626,990 | 127,626,990 | ||||||||
- Percentage of shares (as a % of the total shareholding | 100.00 | 100.00 | 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 | 48.52 | 48.53 | 48.52 | 48.53 | ||||||||
B | Investor Complaints | Quarter ended 31-12-2012 | ||||||||||||
Pending at the beginning of the quarter | NIL | |||||||||||||
Received during the quarter | 26 | |||||||||||||
Disposed of during the quarter | 26 | |||||||||||||
Remaining unresolved at the end of the quarter | NIL | |||||||||||||
RELIANCE INFRASTRUCTURE LIMITED |
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Segment-wise Revenue, Results and Capital Employed | ||||||||||||||
Rs. crore | ||||||||||||||
Sr. No. | Particulars | Quarter ended | Nine months ended | Year ended | ||||||||||
31-12-2012 | 30-09-2012 | 31-12-2011 | 31-12-2012 | 31-12-2011 | 31-03-2012 | |||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |||||||||
1 | Segment Revenue | |||||||||||||
- Electricity Business | 1,528.59 | 1,579.68 | 1,525.72 | 4,765.56 | 4,873.94 | 6,217.80 | ||||||||
- EPC and Contracts Business | 1,926.62 | 1,920.54 | 2,981.52 | 5,637.15 | 7,302.33 | 11,688.87 | ||||||||
Total | 3,455.21 | 3,500.22 | 4,507.24 | 10,402.71 | 12,176.27 | 17,906.67 | ||||||||
Less : Inter Segment Revenue | - | - | - | - | - | - | ||||||||
Net Sales / Income from Operations | 3,455.21 | 3,500.22 | 4,507.24 | 10,402.71 | 12,176.27 | 17,906.67 | ||||||||
2 | Segment Results | |||||||||||||
Profit before Tax and Interest from each segment : | ||||||||||||||
- Electricity Business | 233.50 | 209.90 | 280.35 | 623.15 | 942.44 | 1,063.25 | ||||||||
- EPC and Contracts Business | 211.56 | 183.72 | 355.31 | 580.39 | 1,023.90 | 1,480.82 | ||||||||
Total | 445.06 | 393.62 | 635.66 | 1,203.54 | 1,966.34 | 2,544.07 | ||||||||
- Finance Costs | (205.47) | (198.02) | (126.05) | (593.67) | (270.43) | (568.10) | ||||||||
- Interest Income | 251.29 | 201.39 | 139.37 | 647.25 | 312.31 | 513.99 | ||||||||
- Other un-allocable Income net of expenditure | 357.15 | 111.99 | (34.94) | 515.11 | (39.48) | 7.80 | ||||||||
Profit before Tax | 848.03 | 508.98 | 614.04 | 1,772.23 | 1,968.74 | 2,497.76 | ||||||||
3 | Capital Employed | |||||||||||||
Quarter ended | Nine months ended | |||||||||||||
- Electricity Business | 8,114.34 | 7,462.49 | 7,105.32 | 8,114.34 | 7,105.32 | 7,248.12 | ||||||||
- EPC and Contracts Business | 3,418.44 | 3,185.19 | 3,535.04 | 3,418.44 | 3,535.04 | 2,803.95 | ||||||||
- Unallocated Assets (net) | 8,884.03 | 8,639.46 | 8,189.63 | 8,884.03 | 8,189.63 | 8,488.81 | ||||||||
Total | 20,416.81 | 19,287.14 | 18,829.99 | 20,416.81 | 18,829.99 | 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 the General Reserve. The loss arising from derivative contracts for the quarter and nine months ended December 31, 2012 were Rs. 16.38 crore and Rs.27.08 crore respectively. The Company has decided to give effect to the said derivative loss and its corresponding adjustment in terms of the Scheme by withdrawal from the General Reserve in the 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.180.02 crore to "Foreign Currency Monetary Items Translation Difference Account" as on December 31, 2012.
5. During the quarter, the Company revalued its freehold land, building and plant and machinery located at Goa, Samalkot and Chitradurga w.e.f. April 1, 2012 and incremental value on revaluation amounting to Rs. 495.69 crore has been credited to Revaluation Reserve. Consequent to revaluation, there is an additional charge of depreciation of Rs.19.62 crore for the quarter and nine months ended December 31, 2012 and equivalent amount has been withdrawn from the Revaluation Reserve, which has no impact on the profit for the quarter.
6. During the quarter, the Company has sold 5,30,51,807 equity shares of Reliance Power Limited (RPower), an associate Company, resulting in reduction of the Company's interest in RPower from 38.41% to 36.52%. The profit of Rs.418.34 crore on sale of these shares has been shown as exceptional item.
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 January 28, 2013.The statutory auditors have carried out a limited review of the financial result of the Company, as per listing agreement entered into with the stock exchanges in India.
8. There were no extraordinary items during the quarter and nine months ended December 31, 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: January 28, 2013 Chairman
Related Shares:
Reliance Inf S