The Anil Ambani-led infrastructure major had clocked a net profit of Rs 409.27 crore for the same quarter in 2015-16.
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Consolidated total income from operation stood at Rs 7098.59 crore, up by 2.78% versus Rs 6906.50 crore a year ago same period.
Reliance Infrastructure on Tuesday reported a seven per cent rise in its consolidated net profit for the first quarter (Q1) of 2016-17 (FY17). Finance costs for the company rose 7.5 percent to Rs 646 crore compared to Rs 600.9 crore.
In addition, the company’s power distribution business in Mumbai recovered Rs 241 crore arrears in the period under review. The company said Mumbai Metro earned a revenue of Rs.55 crore in the June quarter, an increase of 12% over the same period last fiscal.
The company said discussion is in “advanced stage with PSP Investments of Canada for 49% stake sale in Mumbai power business”. Besides, in the field of renewable energy, the company has generated 52 million units of wind power during these three months. Over 21 crore commuters travelled with 100 per cent train availability.
“Entire proceeds utilised for debt reduction”, the company said in a statement.
On segment wise revenue break-up, the Power business contributed growth of 3.46% yoy to Rs 5895.88 crore during this quarter.
Earnings before interest, taxes, depreciation and amortisation increased 5.3 percent to Rs 1,142 crore from Rs 1,084.2 crore year-on-year. Its order book stood at Rs 2,720 crore.
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The company has received 27 industrial licenses for missiles, ammunition, land and naval systems.
