Reliance Infrastructure on Saturday reported a 34 percent rise in its consolidated net profit for the September quarter. The construction company recorded Rs 570.5 crore of consolidated net profit for the quarter as against a consolidated net profit of Rs 426.3 crore during the corresponding quarter in the previous financial year.
In a regulatory filing to the Bombay Stock Exchange (BSE), the company disclosed that its total income from operations during the second quarter, or Q2, declined about eight percent to Rs 6,972.89 crore from Rs 7,560.89 crore in the same quarter last fiscal. Additionally, total expenses of the Anil Ambani-led company fell about two percent to Rs 6,023 crore for the July-September quarter.
"As on September 30, 2016, the consolidated net worth of the company stood at Rs 28,148 crore with debt to equity of 0.95x," the company said.
In the near future, the company is reportedly targeting opportunities worth Rs 2 lakh crore planned by government across power, roads, railways, defence, ports and other infrastructure projects. It has also submitted project bids worth Rs 15,000 crore in the last three months.
Reliance Infrastructure signed agreements with Adani Transmission to sell three of its transmission assets, valued at Rs.2,000 crore, the company added.
The Reliance Infrastructure (RInfra) stock closed at Rs 489.50 on Friday, up 3.78 percent from its previous close on the BSE.