Last checked at 2 Aug 2013 07:00
Reliance Infrastructure Limited | |||||
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710 | |||||
website: www.rinfra.com | |||||
Statement of Consolidated Financial Results for the quarter ended June 30, 2013 | |||||
Part - I | (Rs crore) | ||||
Sr. No. | Particulars | Quarter ended | Year ended | ||
30-06-2013 | 31-03-2013 | 30-06-2012 | 31-03-2013 | ||
(Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
1 | Income from Operations | ||||
(a) Net Sales / Income from Electricity Business | 3,584.19 | 3,691.83 | 3,491.77 | 14,052.73 | |
(b) Income from EPC and Contracts Business | 1,669.00 | 2,267.30 | 1,751.14 | 7,659.21 | |
(c) Income from Infrastructure Business | 179.45 | 154.07 | 98.23 | 515.67 | |
(d) Other Operating Income | 19.81 | 74.15 | 41.94 | 153.94 | |
Total Operating Income | 5,452.45 | 6,187.35 | 5,383.08 | 22,381.55 | |
2 | Expenditure | ||||
(a) Cost of Electrical Energy purchased | 2,259.38 | 2,115.36 | 2,250.38 | 8,695.34 | |
(b) Cost of Fuel | 443.74 | 531.70 | 417.32 | 1,725.35 | |
(c) Construction Materials Consumed and Sub-Contracting | |||||
Charges | 1,439.43 | 1,910.07 | 1,490.27 | 6,533.31 | |
(d) Employee Benefits Expenses | 291.37 | 296.15 | 308.33 | 1,141.94 | |
(e) Depreciation and amortisation | 136.13 | 163.88 | 125.47 | 551.10 | |
(f) Other Expenses | 294.80 | 485.60 | 245.02 | 1,319.97 | |
Total Expenditure | 4,864.85 | 5,502.76 | 4,836.79 | 19,967.01 | |
3 | Profit from operations before Other Income (net),Finance Costs and Exceptional Items | 587.60 | 684.59 | 546.29 | 2,414.54 |
4 | Other Income (net) (Refer Note 2 (b)) | 293.46 | 165.77 | 317.41 | 1,051.43 |
5 | Profit from Ordinary Activities before Finance Costs and Exceptional Items | 881.06 | 850.36 | 863.70 | 3,465.97 |
6 | Finance Costs | 423.97 | 409.86 | 419.95 | 1,687.43 |
7 | Profit from Ordinary Activities before Exceptional Items | 457.09 | 440.50 | 443.75 | 1,778.54 |
8 | Exceptional Items (net) | - | 3.68 | - | 382.80 |
9 | Profit from Ordinary Activities before Tax, Share in Profit / (Loss) of Associates and Minority Interest | 457.09 | 444.18 | 443.75 | 2,161.34 |
10 | Tax Expenses (net) | 99.25 | (211.04) | 100.28 | 202.64 |
11 | Profit after Tax but before Share in Profit / (Loss) of Associates and Minority Interest | 357.84 | 655.22 | 343.47 | 1,958.70 |
Share in Profit of Associates | 87.67 | 94.78 | 92.02 | 378.45 | |
12 | Profit after Tax and Share in Profit of Associates | 445.51 | 750.00 | 435.49 | 2,337.15 |
Share in Loss of Associate - Delhi Airport Metro Express Pvt. Ltd. | (27.13) | (19.03) | (22.20) | (83.95) | |
13 | Profit after Tax and Share in Associates | 418.38 | 730.97 | 413.29 | 2,253.20 |
Minority Interest | (3.18) | (5.85) | (1.32) | (6.37) | |
14 | Profit after Tax, Share in Associates and Minority Interest | 415.20 | 725.12 | 411.97 | 2,246.83 |
15 | Paid-up Equity Share Capital (Face Value of ` 10 per Share) | 263.03 | 263.03 | 263.03 | 263.03 |
16 | Reserves including Statutory Reserves excluding Revaluation Reserves | 24,918.36 | |||
17 | Earnings Per Share (* not annualised) | ||||
(a) Basic (`) | 15.79 * | 27.57* | 15.66* | 85.42 | |
(b) Diluted (`) | 15.79 * | 27.57* | 15.66* | 85.42 | |
Part - II Selected Information for the quarter ended June 30, 2013 | |||||
Sr. No. | Particulars | Quarter ended | Year ended | ||
30-06-2013 | 31-03-2013 | 30-06-2012 | 31-03-2013 | ||
(Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
A | Particulars of Shareholding | ||||
1 | Public Shareholding | ||||
- Number of Shares | 135,363,010 | 135,363,010 | 135,363,010 | 135,363,010 | |
- Percentage of Shareholding | 51.47 | 51.47 | 51.47 | 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 | |
- Percentage of shares (as a % of the total shareholding | 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 | 48.53 | 48.53 | |
B | Investor Complaints | Quarter ended 30-06-2013 | |||
Pending at the beginning of the quarter | Nil | ||||
Received during the quarter | 13 | ||||
Disposed of during the quarter | 13 | ||||
Remaining unresolved at the end of the quarter | Nil | ||||
Consolidated Segment-wise Revenue, Results and Capital Employed | |||||
(` crore) | |||||
Sr. No. | Particulars | Quarter ended | Year ended | ||
30-06-2013 | 31-03-2013 | 30-06-2012 | 31-03-2013 | ||
(Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
1 | Segment Revenue | ||||
- Electricity Business | 3,603.12 | 3,728.40 | 3,518.43 | 14,150.17 | |
- EPC and Contracts Business | 1,669.66 | 2,296.49 | 1,766.24 | 7,706.37 | |
- Infrastructure Business | 179.67 | 162.46 | 98.41 | 525.01 | |
Total | 5,452.45 | 6,187.35 | 5,383.08 | 22,381.55 | |
Less: Inter Segment Revenue | - | - | - | - | |
Net Sales / Income from Operations | 5,452.45 | 6,187.35 | 5,383.08 | 22,381.55 | |
2 | Segment Results | ||||
Profit before Interest, Tax, Share in Associates and Minority Interest from each segment: | |||||
- Electricity Business | 404.49 | 391.33 | 352.78 | 1,528.12 | |
- EPC and Contracts Business | 143.37 | 312.19 | 175.13 | 836.20 | |
- Infrastructure Business | 76.91 | 72.30 | 36.39 | 243.47 | |
Total | 624.77 | 775.82 | 564.30 | 2,607.79 | |
- Finance Costs | (423.97) | (409.86) | (419.95) | (1,687.43) | |
- Interest Income | 199.56 | 243.35 | 200.44 | 921.35 | |
| - Other un-allocable Income net of (expenditure) | 56.73 | (165.13) | 98.96 | 319.63 |
Profit before Tax, Share in Associates and Minority Interest | 457.09 | 444.18 | 443.75 | 2,161.34 | |
3 | Capital Employed | ||||
- Electricity Business | 15,764.32 | 15,473.52 | 13,982.84 | 15,473.52 | |
- EPC and Contracts Business | 1,899.31 | 1,564.47 | 3,735.98 | 1,564.47 | |
- Infrastructure Business | 11,306.39 | 10,592.02 | 7,816.63 | 10,592.02 | |
- Unallocated Assets (net) | (2,536.55) | (1,509.00) | (885.16) | (1,509.00) | |
Total | 26,433.47 | 26,121.01 | 24,650.29 | 26,121.01 | |
Notes:
1. Delhi Airport Metro Express Private Limited (DAMEPL), an SPV of the Parent Company, has terminated the Concession Agreement with Delhi Metro Rail Corporation (DMRC) for the Delhi Airport Metro Line, on account of Material Breach and Event of Default under the provisions of the Concession Agreement by DMRC. The operations have been taken over by DMRC with effect from July 1, 2013.
As per the terms of the Concession Agreement, DMRC is now liable to pay DAMEPL a Termination Payment, which is estimated at approx Rs 3,000 crore, as the termination has arisen owing to DMRC's Event of Default. The matter has been referred to arbitration, and as legally advised, the claims for the Termination Payment are considered fully enforceable, and the Parent Company is confident of recovering its entire investment in DAMEPL.
2. a) The Group 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 Group has carried forward unamortised portion of net gain of ` 243.57 crore to "Foreign Currency Monetary Items Translation Difference Account" as on June 30, 2013.
b) In respect of the net foreign exchange losses including losses on derivative instruments aggregating to Rs 195.60 crore for the quarter ended June 30, 2013, the Company has debited the same in the Consolidated Statement of Profit and Loss and an equivalent amount has been withdrawn from General Reserve as permitted pursuant to the option exercised under the Scheme of Amalgamation of Reliance Infraprojects Limited with the Parent Company sanctioned by the Hon'ble High Court of Judicature at Bombay.
3. The Company has opted to publish consolidated financial results. Standalone financial results, for the quarter ended June 30, 2013 can be viewed on the websites of the Company, National Stock Exchange of India Limited and Bombay Stock Exchange Limited at www.rinfra.com, www.nseindia.com, www.bseindia.comrespectively. Key standalone financial information is given below:
(Rs crore)
Particulars | Quarter ended (Unaudited) | Year ended (Audited) | ||
June 30, 2013 | March 31, 2013 | June 30, 2012 | March 31, 2013 | |
Total Operating Income | 3,278.94 | 3,919.32 | 3,447.28 | 14,322.03 |
Profit before Tax | 454.23 | 371.00 | 415.22 | 2,143.23 |
Profit after Tax | 374.23 | 599.00 | 327.02 | 1,999.52 |
4. After review by the Audit Committee, the Board of Directors of the Company has approved the consolidated financial results for the quarter ended June 30, 2013 at their meeting held on July 30, 2013.
5. There were no exceptional and extraordinary items during the quarter ended June 30, 2013.
6. 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: July 30, 2013 Chairman