OREANDA-NEWS. August 12, 2011. Reliance Infrastructure Limited today announced its un-audited consolidated financial results for the quarter ended June 30, 2011. The highlights are:

Key Highlights

■          Mumbai Distribution :

- MERC has approved the recovery of Regulatory Assets of Rs 2,316 crore from all consumers connected to RInfra's network including those supplied by Tata Power

- MERC has allowed a levy of Cross Subsidy Surcharge on all migaring consumers from date of migration

■          Road Projects: Developing 11 road projects of 970 kms

- Have 4 operational projects and additional 6 road projects would start generating revenue in FY12

- Hosur Krishnagiri (in Tamil Nadu) 6 laning project, part of Bengaluru Chennai Golden quadrilateral, is operational from June 2011

■          Metro Projects : Developing 3 metro rail projects in Mumbai and Delhi with a total stretch of 66 kms, having 45 stations

o Delhi Metro ( 23 kms & 6 Stations):

■          Trains are running with 99.9% reliability for 18 hours a day

■          Baggage check-in facility started in Delhi Metro at Shivaji Stadium station and New Delhi Railway station.

■          Frequency of train increased by 33% to 15 minutes

■          Daily commuters increased to over 12,000 in just 5 months of operation

■          Deal signed for retail and advertising with marquee vendors

- Mumbai Metro Line 1: (12 kms & 12 stations) : Project is scheduled to be commissioned in Q4FY12

- Mumbai Metro Line 2 (32 kms & 27 stations) : Achieved financial closure; Topographical survey of alignment is complete.

■          Transmission:

- WRSS project (1,500 km in Gujarat & Maharashtra) : Line 1 and Line 2 have started generating revenue and project is expected to be operational by FY12

- Mumbai Strengthening project : 3 receiving stations have been charged and registered an all time high availability of 99.7%

■          EPC Revenue : EPC revenue of Rs 1,889 crore for the quarter - an increase of 214%

■          Buy-Back : Bought-back 22.5 lakh shares of Rs 140 crore till date

Consolidated - Quarter ended June 30, 2011

•           Total Operating Income of Rs 5,191 crore (USD  1.2 billion), against Rs 3,752 crore in the corresponding quarter of previous year, an increase of 38%

•           Net Profit of Rs 405 crore (USD  91 million), against Rs 375 crore in the corresponding quarter of previous year, an increase of 8%

•           Cash Profit of Rs 637 crore (USD  143 million), against Rs 508 crore in the corresponding quarter of previous year, an increase of 25%

•           Cash Earnings Per Share (Cash EPS) of Rs 23.9 against Rs 20.7 in the corresponding quarter of previous year

•           Earnings Per Share (EPS) of Rs 15.2 against Rs 15.3 in the corresponding quarter of previous year

On Consolidated basis, the net worth of the Company stood at Rs 24,025 crore (USD  5.4 billion) and book value per share at Rs 903 as on June 30, 11. The Company's total debt on consolidated basis stood at Rs 13,300 crore (USD  3.0 billion). The company has enough borrowing capacity with debt to equity ratio of 0.55 as on June 30, 2011.

On Standalone basis, the net worth of the Company stood at Rs 17,967 crore (USD  4.0 billion) and book value per share at Rs 677 as on June 30, 11. The Company's total debt on standalone basis stood at Rs 4,601 crore (USD  1.0 billion).

The Company remains debt free at the net level and enjoys the top end ratings of 'AA+' and 'AA' from CRISIL and FITCH respectively.

The Company's total contribution in various infrastructure SPVs is Rs 4,850 crore (USD  1.1 billion)

Reliance Infrastructure Limited

Reliance Infrastructure Ltd (RInfra) is the largest infrastructure company developing projects, through various Special Purpose Vehicles, in several high growth areas in Infrastructure sector i.e. Roads, Metro rail, Airports, etc. The Company is also leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission, Distribution, EPC and Trading.

The Company is developing two metro rail projects in Mumbai and operating Airport Metro Express in Delhi; awarded eleven road projects with total length of 970 kms; operate and maintain five airports in Maharashtra.

RInfra generates 940 MW of power through its five power stations; distributes power to over 5.4 million consumers in Mumbai and Delhi; developing five transmission projects including first Independent Private Transmission project in India.

RInfra also provides Engineering, Procurement and Construction (EPC) for developing power & road projects and currently have an orderbook of about Rs. 28,000 crore.