Reliance Infra Ld RIFS Standalone Quarterly results 30.09.12
Reliance Infra Ld (RIFS) - Standalone Quarterly results 30.09.12
RNS Number : 8370Q
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
Standalone Statement of Financial Results for the quarter and half year ended September 30, 2012
Part - I Rs. crore
Sr. No. Particulars Quarter ended Half Year ended Year ended
30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Income from
Operations
(a) Net Sales / Income from 1,569.58 1,638.33 1,363.85 3,207.91 2,873.54 5,675.31
Electricity Business
(b) Income from EPC and 1,918.40 1,774.94 2,430.90 3,693.34 4,315.76 11,678.14
Contracts Business
(c) Other Operating 12.24 34.01 183.25 46.25 479.73 553.22
Income
Total Income from 3,500.22 3,447.28 3,978.00 6,947.50 7,669.03 17,906.67
Operations
2 Expenses
(a) Cost of Electrical 646.20 685.15 612.85 1,331.35 1,313.42 2,459.17
Energy purchased
(b) Cost of Fuel 373.69 417.28 368.53 790.97 771.86 1,548.67
(c) Construction
Materials Consumed and
Sub-contracting 1,634.81 1,471.80 1,873.00 3,106.61 3,375.58 9,737.69
Charges
(d) Employee benefits 192.45 243.89 202.74 436.34 413.84 740.48
expense
(e) Depreciation and 92.19 113.04 63.84 205.23 132.76 267.77
amortisation
(f) Other Expenses 199.55 169.34 209.47 368.89 384.39 745.77
Total Expenses 3,138.89 3,100.50 3,330.43 6,239.39 6,391.85 15,499.55
3 Profit from operations 361.33 346.78 647.57 708.11 1,277.18 2,407.12
before Other Income (net),
finance cost and
exceptional items
4 Other Income (net) 345.67 258.62 112.63 604.29 221.89 658.74
5 Profit from Ordinary 707.00 605.40 760.20 1,312.40 1,499.07 3,065.86
Activities before finance
cost and exceptional items
6 Finance Costs 198.02 190.18 85.02 388.20 144.37 568.10
7 Profit from Ordinary 508.98 415.22 675.18 924.20 1,354.70 2,497.76
Activities before
exceptional items
8 Exceptional Items - - - - - -
9 Profit from Ordinary 508.98 415.22 675.18 924.20 1,354.70 2,497.76
Activities before tax
10 Tax Expenses (including Deferred Tax & Tax for earlier years) 88.20 179.44 183.05 428.44 497.50
11 Profit after Tax 414.13 327.02 495.74 741.15 926.26 2,000.26
12 Paid-up Equity Share 263.03 263.03 263.57 263.03 263.57 263.03
Capital (Face Value of Rs.
10 per Share)
13 Reserves including Statutory Reserves excluding Revaluation Reserves 17,773.36
14 Earnings Per Share (* not
annualised)
(a) Basic (Rs.) 15.75* 12.43* 18.84* 28.18* 34.90* 75.70
(b) Diluted (Rs.) 15.75* 12.43* 18.84* 28.18* 34.90* 75.70
15 Debt Service Coverage Ratio 5.80 13.64 6.64
(Refer Note 6 )
16 Interest Service Coverage 5.80 13.64 6.64
Ratio (Refer Note 6)
Part - II Selected Information for the quarter ended September 30, 2012
A Particulars of
Shareholding
1 Public Shareholding
- Number of Shares 135,363,010 135,363,010 135,893,272 135,363,010 135,893,272 135,363,010
- Percentage of 51.47 51.47 51.57 51.47 51.57 51.47
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
127,626,990 127,626,990
- Number of shares 127,626,990 127,626,990 127,626,990 127,626,990
100.00 100.00 100.00 100.00 100.00
- Percentage of shares (as a % of the total
shareholding 100.00
of promoter and promoter
group)
48.43
- Percentage of shares (as a % of the total share capital of 48.53 48.43 48.53 48.53
the Company)
B Investor Complaints Quarter ended 30-09-2012
Pending at the beginning of NIL
the quarter
Received during the 8
quarter
Disposed of during the 8
quarter
Remaining unresolved at the NIL
end of quarter
RELIANCE INFRASTRUCTURE LIMITED
Segment-wise Revenue, Results and Capital Employed
Rs. crore
Sr. Particulars Quarter ended Half Year ended Year ended
No.
30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Segment Revenue
- Electricity 1,579.68 1,657.29 1,545.99 3,236.97 3,348.22 6,217.80
Business
- EPC and Contracts 1,920.54 1,789.99 2,432.01 3,710.53 4,320.81 11,688.87
Business
Total 3,500.22 3,447.28 3,978.00 6,947.50 7,669.03 17,906.67
Less : Inter Segment Revenue - - - - - -
Net Sales / Income from 3,500.22 3,447.28 3,978.00 6,947.50 7,669.03 17,906.67
Operations
2 Segment Results
Profit before Tax and Interest from each segment :
- Electricity 209.90 179.75 279.46 389.65 662.09 1,063.25
Business
- EPC and Contracts 183.72 185.11 412.83 368.83 668.59 1,480.82
Business
Total 393.62 364.86 692.29 758.48 1,330.68 2,544.07
- Finance Costs (198.02) (190.18) (85.02) (388.20) (144.37) (568.10)
- Interest Income 201.39 194.57 125.23 395.96 172.94 513.99
- Other un-allocable Income net of 111.99 45.97 (57.32) 157.96 (4.55) 7.80
expenditure
Profit before Tax 508.98 415.22 675.18 924.20 1,354.70 2,497.76
3 Capital Employed
- Electricity 7,462.49 7,277.73 6,873.78 7,462.49 6,873.78 7,248.12
Business
- EPC and Contracts 2,397.19 3,712.51 2,745.18 2,397.19 2,745.18 2,803.95
Business
- Unallocated Assets 9,427.46 7,822.33 8,819.40 9,427.46 8,819.40 8,488.81
(net)
Total 19,287.14 18,812.57 18,438.36 19,287.14 18,438.36 18,540.88
Standalone Statement of Assets and
Liabilities
Rs. crore
Particulars As at As at
30-Sep-12 31-Mar-12
A. EQUITY AND
LIABILITIES
(1) Shareholders'
Funds
(a) Share capital 263.03 263.03
(b) Reserves and 19,024.11 18,277.85
Surplus
Shareholder's 19,287.14 18,540.88
Funds
(2) Non-Current
Liabilities
(a) Long-term 4,111.91 4,599.38
borrowings
(b) Deferred tax liabilities 479.52 449.52
(Net)
(c) Other Long term 5,898.45 4,929.87
liabilities
(d) Long term 380.00 380.00
provisions
Non-current 10,869.88 10,358.77
Liabilities
(3) Current
Liabilities
(a) Short-term 5,267.06 4,548.35
borrowings
(b) Trade payables 3,056.36 3,824.62
(c) Other current 5,974.66 5,879.70
liabilities
(d) Short-term 14.68 227.27
provisions
Current 14,312.76 14,479.94
Liabilities
TOTAL EQUITY AND LIABILITIES 44,469.78 43,379.59
B. ASSETS
(1) Non-current
assets
(a) Fixed assets 6,875.39 7,753.88
(b) Non-current 10,169.36 9,859.31
investments
(c) Long term loans and 955.29 1,655.69
advances
(d) Other 4,158.01 3,996.92
non-current assets
Non-current 22,158.05 23,265.80
Assets
(2) Current assets
(a) Current 2,515.94 2,925.75
investments
(b) Inventories 251.09 309.40
(c) Trade 5,555.16 4,565.59
receivables
(d) Cash and cash equivalents 471.30 686.07
(e) Short-term loans and 11,328.42 10,141.49
advances
(f) Other current 2,189.82 1,485.49
assets
Current 22,311.73 20,113.79
Assets
TOTAL ASSETS 44,469.78 43,379.59
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 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 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 Company has decided to give impact of the
said derivative loss and its corresponding adjustment in terms of the Scheme
by withdrawal from General Reserve in Statement of Profit and Loss at the year
end.
4. The Company 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 Company. The Board of Directors of the 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 Company.
6. Ratios have been computed as under:
· Debt Service Coverage Ratio = Earnings before Interest and Tax /
(Interest on Long Term Debt + Principal Repayment of Long Term Debt)
· Interest Service Coverage Ratio = Earnings before Interest and Tax /
Interest on Long Term Debt
7. After review by the Audit Committee, the Board of Directors of the
Company has approved the Standalone financial results at their meeting held on
November 6, 2012.The statutory auditors have carried out a limited review of
the financial result of the Company, as per listing agreement entered into
with the stock exchanges in India.
8. There were no exceptional / extraordinary items during the quarter and
half year ended September 30, 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 LIFIELVLFLIF -0- Nov/12/2012 07:00 GMT
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