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Reliance Infrastructure reports weaker March quarter

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World Cement,

Reliance Infrastructure reported an Rs.100 crore decline in profit, from Rs.721 crore to Rs.621 crore in the quarter ending 31 March 2014. Revenue fell to Rs.4708 crore from Rs.6187 crore a year earlier. Reliance Infrastructure’s business includes metro rail lines, cement plants and roads; the weaker revenue is attributed to less income from EPC contracts as the ongoing projects were complete and there was no new work. However, Chief Executive Lalit Jalan is said to be enthusiastic about the change in government, which it is felt will boost infrastructure projects.

Reliance Infrastructure is involved in the Mumbai Metro project and is set to open the first phase this quarter. In all, the company is set to have capital expenditure of Rs.1500 crore this year.

Reliance Power, the other group business, reported higher profits and income.

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