Reliance Infrastructure reports declining profit in June quarter

Reliance Infrastructure has reported a decline in profit for the June quarter, at Rs.400.91 crore from Rs.457.62 crore in the June 2014 quarter. The drop is attributed to losses from the cement and Mumbai metro businesses.

Total operating income rose to Rs.4336.83 crore, though the cement business lost around Rs.50 crore during the quarter. Total expenditure for the quarter was up at Rs.3835.26 crore from Rs.3607.86 crore.

Cement capacity utilisation was around 65%. The company is hoping for more positive market developments in the rest of the year and to turn the business PAT (profit after tax) positive within 3 – 6 months.

Edited from various sources by Katherine Guenioui

Sources:

• Economic Times
• Business Standard

Read the article online at: https://www.worldcement.com/asia-pacific-rim/13082015/reliance-infrastructure-reports-declining-profit-in-june-quarter-318/