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Reliance Infra Q2 net profit slips 16.44% to Rs 346 cr

This article was posted on Nov 11, 2013 and is filed under Stock News

Reliance Infrastructure ‘s second quarter standalone net profit fell 16.44 percent year-on-year to Rs 346 crore on lower revenues. Standalone total income from operations dropped 19 percent Y-o-Y to Rs 2,832 crore in three-month period ended September 2013, dented by EPC and contracts business.

During the quarter, revenues from its electricity business declined marginally to Rs 1,568 crore from Rs 1,580 crore and EPC & contract business plunged significantly to Rs 1,264 crore from Rs 1,920.5 crore. Reliance Infra’s operational performance was better compared to topline and bottomline. Earnings before interest, tax, depreciation and amortisation increased 5 percent Y-o-Y to Rs 476 crore and operating profit margin expanded 380 basis points Y-o-Y to 16.8 percent in the quarter gone by.

Read more at: http://www.moneycontrol.com/news/results/reliance-infra-q2-net-profit-slips-1644-to-rs-346-cr_987055.html?utm_source=ref_article

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