Reliance Infra posts Rs 449 cr loss in March quarter

Total income in the quarter under review declined to Rs 4,467.61 crore from Rs 7,860.81 crore in the year-ago period

AgenciesUpdated: Friday, May 13, 2022, 10:02 PM IST
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The company had reported a consolidated net profit of Rs 1,611.02 crore in the corresponding quarter of FY21, a BSE filing said. /Representational Image |

Reliance Infrastructure on Friday reported a loss of Rs 449.13 crore in the March 2022 quarter.

The company had reported a consolidated net profit of Rs 1,611.02 crore in the corresponding quarter of FY21, a BSE filing said.

The total income in the quarter under review declined to Rs 4,467.61 crore from Rs 7,860.81 crore in the year-ago period.

In FY22, the company reported its consolidated net loss at Rs 938.39 crore, while it had posted a consolidated net profit of Rs 1,125.25 crore in the preceding fiscal.

Total income in the fiscal also came down to Rs 19,132.55 crore from Rs 20,914.89 crore in 2020-21.

It said that in FY22, Delhi Metro Rail Corporation paid Rs 1,766 crore to Delhi Airport Metro Express Ltd against arbitration award, which was used for debt reduction.

Reliance Infrastructure is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and the defence sector.

Reliance Infrastructure is a major player in providing Engineering and Construction (E&C) services for power, infrastructure, metro and road projects.

Reliance Infrastructure through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on Build, Own, Operate and Transfer (BOOT) basis and nine road projects on Build, Operate and Transfer (BOT) basis.

Reliance Infrastructure also has presence in power distribution business.

(With PTI inputs)

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