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Reliance Infrastructure Ltd announces FY19 results

Posted On: 2019-06-15 09:28:17

Reliance Infrastructure Limited (Rlnfra) has announced its audited financial results for the quarter and year ended March 31, 2019.

- Total Income up 6% to Rs. 21,910 crore in FY19 vis-a-vis Rs. 20,612 crore in FY18

- EBITDA up 7% to Rs. 6,792 crore in FY19 vis-a-vis Rs. 6,341 crore in FY18

- PAT at Rs. 1,084 crore in FY19 compared to only Rs. 34 crore in FY18, up 3100%

- Standalone RINFRA debt liabilities reduced by nearly 70% to Rs. 5,960 crore in March 2019 from Rs. 19,143 crore in March 2018

- Standalone RINFRa interest cost reduced 22% to Rs. 1,210 crore in FY19 from Rs. 1,552 crore in FY18

- Standalone RINFRA interest cost to reduce by additional 50% to just Rs. 600 crore per year in the next fiscal

- Company aims to be zero debt in the next financial year or earlier based on liquidity events

- Post one time exceptional items, one time consolidated net loss of Rs. 2,427 crore in FY19

- Net loss largely a result of one time impairment of Reliance Naval and Engineering Limited acquired in 2016 which was already NPA company; potential to be written back upon successful debt resolution of RNAVAL pursuant to the new RBI circular

- One time sale of Power Distribution business in Mumbai used to offset one time loss on sale of RPOWER shares by the lenders and one time losses consolidated from RPOWER

- Awaiting final adjudication orders on claims of over Rs. 30,000 crore
- Power related (Generation and Distribution) regulatory assets recognised and under approval of Rs. 22,000 crore
Arbitration award won / advanced stages of over Rs. 8,000 crore
Definitive binding agreement signed with Cube Highways and Infrastructure III Pte Ltd for 100% sale of Delhi Agr toll road
Total Enterprise Value of Rs. 3,600 crore
Transaction to close shortly
Operational highlights for FY1819

- Over 1.3 lakh new households added in Delhi Discoms l.e. BRPL and BYPL; Total households: 42.5lakhs

- AT&C loss reduced to sub 9% in Delhi Discoms backed by high operational efficiencies

- Won E&C projects worth Rs 12,650 crore in Power and Urban transport sector - Current E&C order book of Rs 28,640 crore

- Key marquee projects won are Versova Bandra Sea Link, three packages of Mumbai Metro Line 4, Kudankulam Nuclear power project, Mumbai Nagpur Expressway & Hirasar airport project in Gujarat

- Revenue of Rs 1,220 crore from all road projects - An increase of 12% YoY

- Revenue of Rs 330 crore from Mumbai Metro One project - An increase of 13% YoY

- Mumbai Metro One completed 5 years of service, running 6.17 lakh trips and carrying over 540 million commuters, equivalent to transporting Mumbai population over 40 times with zero accident and zero fatality.

Shares of RELIANCE INFRASTRUCTURE LTD. was last trading in BSE at Rs.59.3 as compared to the previous close of Rs. 62.75. The total number of shares traded during the day was 3457763 in over 15203 trades.

The stock hit an intraday high of Rs. 64 and intraday low of 57.9. The net turnover during the day was Rs. 206640389.


Source: Equity Bulls

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