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Reliance Infra Ld RIFS Quarterly Consolidated Results 30.09.12

  Reliance Infra Ld (RIFS) - Quarterly Consolidated Results 30.09.12

RNS Number : 8371Q
Reliance Infrastructure Limited
12 November 2012












    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 and half year ended September 30, 2012
 Part - I                                                                                                                                         (Rs. crore)
 Sr.  Particulars                              Quarter ended                                         Half Year ended                     Year ended
 No.
                           30-09-2012             30-06-2012           30-09-2011          30-09-2012           30-09-2011             31-03-2012
                           (Unaudited)           (Unaudited)          (Unaudited)          (Unaudited)          (Unaudited)             (Audited)
  1   Income from Operations
      (a) Net Sales        3,585.34      3,491.77      3,260.11     7,077.11      6,300.07          12,239.49
      from
      Electricity
      Business
      (b) Income           1,800.49      1,751.14      2,211.31     3,551.63      3,961.33          11,035.98
      from EPC and
      Contracts
      Business
      (c) Income          110.54   98.23   77.24    208.77     143.25       319.56
      from
      Infrastructure
      Business
      (d) Other         18.91   41.94     180.25   60.85     469.79       631.12
      Operating
      Income
      Total                5,515.28      5,383.08      5,728.91       10,898.36       10,874.44          24,226.15
      Operating
      Income
  2   Expenditure
       (a) Cost of       2,330.25      2,250.38      2,209.76     4,580.63      4,115.50         7,812.87
      Electrical
      Energy
      purchased
       (b) Cost of      396.62     417.32     368.58    813.94     816.48         1,593.40
      Fuel
       (c) Construction Materials Consumed and Sub-Contracting
                    1,548.63      1,490.27      1,847.54     3,038.90         3,341.47      9,718.86
      Charges
       (d)              259.67     308.33     267.47    568.00        543.35      1,028.50
      Employee
      Beneifts
      Expenses
       (e)              125.82     125.47     100.93    251.29        203.35    403.33
      Depreciation
       (f) Other        309.93     245.02     333.21    554.95        609.91      1,343.25
      Expenses
      Total                4,970.92      4,836.79      5,127.49     9,807.71         9,630.06       21,900.21
      Expenditure
  3   Profit from         544.36     546.29     601.42     1,090.65         1,244.38      2,325.94
      operations
      before Other
      Income
      (net),Finance
      Costs and
      Exceptional
      Items
  4   Other Income        282.34     258.85     126.43    541.19        300.41    814.42
      (net)
  5   Profit from         826.70     805.14     727.85     1,631.84         1,544.79      3,140.36
      Ordinary
      Activities
      before Finance
      Costs and
      Exceptional
      Items
  6   Finance Costs       404.34     361.39     250.70    765.73        467.32      1,335.94
  7   Profit from         422.36     443.75     477.15    866.11         1,077.47      1,804.42
      Ordinary
      Activities
      before
      Exceptional
      Items
  8   Exceptional         - 
      Items                               -                   -                   -                  -                                             -
  9   Profit from         422.36     443.75     477.15    866.11         1,077.47      1,804.42
      Ordinary
      Activities
      before Tax,
      Share in
      Associates and
      Minority
      Interest
  10  Tax Expenses        108.65     100.28     183.25    208.93        454.55    544.16
      (net)
  11  Profit after        313.71     343.47     293.90    657.18        622.92      1,260.26
      Tax but before
      Share in
      Associates and
      Minority
      Interest
      Share of          67.72   69.82   68.42    137.54        146.09    332.04
      Profit in
      Associates
      (net)
      Minority         0.38  (1.32)  (0.69)            (1.99)       
      Interest                                                                                          (0.94)                                          (5.49)
  12  Profit after        381.81     411.97     361.63    793.78        767.02      1,586.81
      Tax, Share in
      Associates and
      Minority
      Interest
  13  Paid-up Equity      263.03     263.03     263.57    263.03        263.57    263.03
      Share Capital
      (Face Value of
      Rs. 10 per
      Share)
  14  Reserves including Statutory Reserves excluding Revaluation Reserves                                                                     23,367.13
  15  Earnings Per Share (* not annualised)
       (a) Basic                  14.52*               15.66*               13.74*              30.18*                   29.15*   60.05
      (Rs.)
       (b)                        14.52*               15.66*               13.74*              30.18*                   29.15*   60.05
      Diluted (Rs.)
 Part - II Selected Information for the quarter ended September 30, 2012
 A  Particulars of Shareholding
 1  Public Shareholding
     - Number of           135,363,010          135,363,010          135,893,272         135,363,010             135,893,272          135,363,010
    Shares
     -              51.47   51.47   51.57   51.47      51.57   51.47
    Percentage of
    Shareholding
 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                127,626,990          127,626,990          127,626,990         127,626,990             127,626,990          127,626,990
    shares
    - Percentage of       100.00     100.00     100.00    100.00        100.00    100.00
    shares (as a %
    of the total
    shareholding
    of promoter and promoter group)
    - Percentage of     48.53   48.53   48.43   48.53      48.43   48.53
    shares (as a %
    of the total
    share capital of
    the Company)
 B  Investor         Quarter ended
    Complaints
                      30-09-2012
                                                                                                                       
    Pending at the                       Nil
    beginning of the
    quarter
    Received during  
    the quarter                             8
    Disposed of      
    during the                              8
    quarter
    Remaining                            Nil
    unresolved at
    the end of the
    quarter





               Reliance Infrastructure Limited                                                                                                        
                                                                                                                                                      
                             Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710                              
   website: www.rinfra.com                                                                                                                            
                              
                                            Consolidated Segment-wise Revenue, Results and Capital Employed
                                                                                                                                           (Rs. crore)
   Sr. No.     Particulars                          Quarter ended                         Half Year ended                 Year ended
                                  30-09-2012         30-06-2012         30-09-2011        30-09-2012          30-09-2011         31-03-2012     
                                  (Unaudited)        (Unaudited)       (Unaudited)        (Unaudited)        (Unaudited)          (Audited)     
                                                                                                                                                      
      1        Segment                                                                                                                                
               Revenue
                                                                                                                                                      
                -           3,601.76    3,518.43     3,439.34    7,120.19      6,764.78    12,858.05
               Electricity                                                                                                                            
               Business
                - EPC       1,802.64    1,766.24     2,212.33    3,568.88      3,966.41    11,047.77
               and Contracts                                                                                                                          
               Business
                -          110.88  98.41   77.24   209.29     143.25  320.33
               Infrastructure                                                                                                                         
               Business
               Total             5,515.28    5,383.08     5,728.91     10,898.36       10,874.44    24,226.15 
               Less: Inter            
               Segment                         -                -                 -                -                   -                - 
               Revenue
               Net Sales /       5,515.28    5,383.08     5,728.91     10,898.36       10,874.44    24,226.15
               Income from                                                                                                                            
               Operations
                                                                                                                                                      
      2        Segment                                                                                                                                
               Results
               Profit before Interest, Tax, Share in Associates and Minority Interest from each segment:
                -          348.91   352.78    425.91    701.69   950.28      1,650.90
               Electricity
               Business
                - EPC      169.82   175.13    230.21    344.95   370.86     916.79
               and Contracts
               Business
                -         56.11  36.39 (7.50)   92.50 (13.00)    (61.50)
               Infrastructure
               Business
               Total            574.84   564.30    648.62     1,139.14    1,308.14      2,506.19
                -          (404.34)  (361.39)   (250.70)    (765.73)  (467.32)      (1,335.94)
               Finance Costs
                -          211.68   200.44    126.05    412.12   217.54     560.69
               Interest
               Income
  - Other   40.18  40.40  (46.82)   80.58  19.11    73.48
               un-allocable
               Income net of
               expenditure
               Profit before    422.36   443.75    477.15    866.11    1,077.47      1,804.42
               Tax, Share in
               Associates and
               Minority
               Interest
      3        Capital
               Employed
                -            14,218.81     13,982.84      12,494.02      14,218.81     12,494.02       13,834.25
               Electricity
               Business
                - EPC       2,421.00    3,735.98     2,726.94     2,421.00    2,726.94      2,816.57
               and Contracts
               Business
                -           8,513.13    7,816.63     9,296.64     8,513.13    9,296.64      9,720.04
               Infrastructure
               Business
                -         (19.64)  (885.16)   (100.79)   (19.64)  (100.79)      (2,236.20)
               Unallocated
               Assets (net)
               Total              25,133.30     24,650.29      24,416.81      25,133.30     24,416.81       24,134.66





Consolidated Statement of Assets and Liabilities
                                                            (Rs. crore)
Sr. No. Particulars                   As at              As at
                                       30-09-2012          31-03-2012
                                       (Unaudited)         (Audited)
A.       I. Equity and Liabilites
1        Shareholders' Funds
         (a) Share Capital              263.03   263.03
         (b) Reserves and Surplus       24,870.27     23,871.63
         Shareholders' Funds            25,133.30     24,134.66
2        Minority Interest             214.42   205.66
3        Non-Current Liabilities
         (a) Long-term borrowings       10,605.86     11,700.30
         (b) Deferred tax liabilities   484.97   451.09
         (Net)
         (c) Other Long term            6,728.17    5,599.14
         liabilities
         (d) Long term provisions       389.92   389.60
         Non-Current Liabilities        18,208.92     18,140.13
4        Current Liabilities
         (a) Short-term borrowings      6,594.27    6,416.09
         (b) Trade payables             6,163.01    6,233.97
         (c) Other current liabilities  7,842.08    6,007.48
         (d) Short-term provisions      62.89  271.92
         Current Liabilities           20,662.25     18,929.46
         TOTAL - EQUITY AND             64,218.89     61,409.91
         LIABILITIES
B        Assets
1        Non-current Assets
         (a) Fixed assets               17,683.08     18,625.89
         (b) Goodwill on Consolidation  78.27  78.25
         (c) Non-current investments    10,101.12     9,247.80
         (d) Long term loans and        2,845.35    3,366.93
         advances
         (e) Other non-current assets   8,927.08    8,260.58
         Non-Current Assets             39,634.90     39,579.45
2        Current Assets
         (a) Current investments        2,632.56    3,053.71
         (b) Inventories                329.58   377.86
         (c) Trade receivables          6,343.30    4,894.24
         (d) Cash and cash equivalents  745.34   1,377.03
         (e) Short-term loans and       11,958.15     10,439.86
         advances
         (f) Other current assets       2,575.06    1,687.76
         Current Assets                 24,583.99     21,830.46
         TOTAL - ASSETS                 64,218.89     61,409.91





Notes:



1. The final determination in the matter of Standby Charges payable for
the years 1998-99 to 2003-04 to The Tata Power Company Limited (TPC) is
pending before the Supreme Court for final hearing. The Parent Company has so
far fully accounted the liability of Rs. 515.60 crore as determined earlier by
Maharashtra Electricity Regulatory Commission (MERC).

2. The final determination in respect of the claim by TPC of Rs. 323.87
crore, along with interest based on the Orders passed by MERC / Appellate
Tribunal for Electricity (ATE) towards difference in energy charge and minimum
offtake charges for energy supplied by TPC at 220 kV interconnection is
pending before Supreme Court for final hearing. The Parent Company has
complied with the interim order direction of depositing Rs. 25 crore with the
Registrar of Supreme Court and providing a Bank Guarantee of Rs. 9.98 crore.



3. Pursuant to the Scheme of Amalgamation of Reliance Infraprojects
Limited sanctioned by the Hon'ble High Court of Judicature at Bombay vide its
order dated March 30, 2011,derivative (losses) / gains for the year debited /
credited to Statement of Profit and Loss may be withdrawn from / transferred
to General Reserve. The gain / (loss) arising from derivative contracts for
the quarter and half year ended September 30, 2012 is Rs. 40.47 crore and
(Rs.10.70 crore) respectively. The Parent Company has decided to give impact
of the said derivative (loss)/ gain and its corresponding adjustment in terms
of the Scheme by withdrawal from/ transferred to General Reserve in Statement
of Profit and Loss at the year end.



4. 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 Company has carried forward
unamortised portion of net gain of Rs.143.52 crore to "Foreign Currency
Monetary Items Translation Difference Account" as on September 30, 2012.



5. During the quarter, Reliance Bhavnagar Power Private Limited and
Reliance Jamnagar Power Private Limited have become wholly owned subsidiaries
of the Parent Company. The Board of Directors of the Parent Company in their
meeting held on August 14, 2012 has approved the Scheme of Amalgamation of the
above companies and Reliance Infrastructure Engineers Private Limited, another
wholly owned subsidiary with the Parent Company.



6. There were no extraordinary items during the quarter ended September
30, 2012.



7. The Company has opted to publish consolidated financial results.
Standalone financial results, for the quarter ended June 30, 2012 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
and www.bseindia.com respectively. Key standalone financial information is
given below:


(Rs. crore)

                Quarter ended                  Six Months ended      Year
                                               (Unaudited)           ended
Particulars     (Unaudited)                                          (Audited)
                September June 30, September September September March
                30, 2012   2012     30, 2011   30, 2012   30, 2011
                                                                     31, 2012
Total Operating 3,500.22   3,447.28 3,978.00   6,947.50   7,669.03   17,906.67
Income
Profit before   508.98     415.22   675.18     924.20     1,354.70   2,497.76
Tax
Profit after    414.13     327.02   495.74     741.15     926.26     2.000.26
Tax



8. After review by the Audit Committee, the Board of Directors of the
Company has approved the consolidated financial results at their meeting held
on November 6, 2012.



9. 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: November 6, 2012  
Chairman





                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IR GUBDBLGBBGDD -0- Nov/12/2012 07:00 GMT