OREANDA-NEWS. Reliance Infrastructure Limited (RInfra) announced its financial results for the quarter ended December 31, 2013. The performance highlights are:

Consolidated results - Quarter ended December 31, 2013

Q3FY14 Total Income of 4,218 crore (USD 683 million), against 5,602 crore in the corresponding quarter of previous year

Q3FY14 Net Profit of 450 crore (USD 73 million) against 357 crore in the corresponding quarter of previous year, an increase of 26%

In Q3FY13, there was an exceptional item of 379 crore pertaining to sale of RPower shares through Offer For Sale mechanism, which resulted in a Net Profit of 728 crore

As on December 31, 2013, the consolidated Networth of the Company stood at 26,622 crore and is conservatively financed with debt to equity of 0.78

ELECTRICAL BUSINESS

Distribution Business : Largest private sector distributor of power to 62 lakh consumers Mumbai Distribution

Recovered 228 crore arrears in Q3FY14; MERC approved arrears of 925 crore p.a. for 6 years

Recovered 136 crore Cross Subsidy Surcharge in Q3FY14

Reverse migration is in progress - 90% of HT power consumption have switched back to RInfra

16,000 new consumers added in Q3FY14; Total consumers : 28.6 lakhs Delhi Distribution

Power Purchase Cost Adjustment Surcharge of 7% approved by DERC wef February 01, 2014

27,000 new consumers added in Q3FY14; Total consumers : 33.4 lakh

Transmission

Western Region Strengthening transmission project in Maharashtra is fully commissioned

2 transmission lines of 570 kms i.e. Pune-Parli (311 kms) & Pune-Aurangabad (261 kms) in Maharashtra commissioned during the quarter

Generation : Generated 1,251 million units in Q3FY14

Power Trading : Traded 1,336 million units in Q3FY14; Amongst top 5 trading licensee in the country EPC BUSINESS : Revenue of 875 crore & Order book of 7,500 crore as on December 31, 2013

INFRASTRUCTURE BUSINESS

Road Projects

Q3FY14 revenue of 140 crore against 153 crore in the corresponding quarter of previous year - Decrease is mainly due to re-arrangement of holding in TD Toll Road & SU Toll Road

9 out of 11 road projects are revenue generating

Reliance Metro Line in Mumbai (12 kms & 12 stations)

Civil work completed. Signal testing & System integration process completed

Trial runs being conducted regularly on the entire Versova-Andheri-Ghatkopar corridor

Safety certification process is underway; Already received approvals from relevant authorities including Fire department, Electrical Inspector General, etc.

Project is in advance stages to start commercial operations within FY14

Cement : Developing two plants of 5 million tons each in Maharashtra and Madhya Pradesh (MP) 1st 5 mtpa cement plant in MP to start commercial production within FY14 - 3,000 crore plant implemented in a record time of 22 months

Started clinkerization from cement plant in Madhya Pradesh

Company is currently catering to key markets in Nagpur, Wardha, Amravati, Chindwara, etc. -Plans to expand its presence in the central, eastern and northern markets of India.

Reliance Infrastructure Ltd (RInfra) is the largest infrastructure company developing projects, through various Special Purpose Vehicles (SPVs), in several high growth areas in the Infrastructure sector i.e. Roads, Metro Rail and Cement.

The Company is also the leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission, Distribution and Trading of power.

The SPVs are inter alia developing a metro rail project in Mumbai; eleven road projects with total length of 1,000 kms; operating and developing two cement plants of capacity of five million tonnes each per year in Maharashtra and Madhya Pradesh.

RInfra along with its wholly owned subsidiary generates over 940 MW of power through its five power stations; distributes power to 62.0 lakh consumers in Mumbai and Delhi and is developing five transmission projects including the first Independent Private Transmission projects.

RInfra also provides Engineering, Procurement & Construction (EPC) services for developing power and road projects.