Rising to different performance level Rel Infra and Rel Power did well in the market slump
23-Apr-2009 •Research Desk
Anil Ambani-led Reliance Infra is in the business of setting up and operating industrial infrastructure. The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing, although it does not have any manufacturing plant.
Total operating income for the company grew from Rs 6448.42 crore for the year ended March 31, 2008 to Rs 9868.61 crore. This was a growth of 53 per cent.
However, there was just a marginal growth of 5 per cent in its net profit, which stood at Rs 1138.88 crore for the year ended March 31, 2009 from Rs 1084.63 crore for the year ended March 31, 2008.
Even though the net profit of the company has taken a hit, Reliance Infra has informed the BSE that the Board of Directors of the company has recommended a dividend of Rs 7.00 per share (70%) on fully paid up equity shares of Rs 10 each.
RELIANCE POWER
Reliance Power Limited, another Anil Ambani-owned entity (part of the Reliance Anil Dhirubhai Ambani Group) is in the business to develop, construct and operate power projects domestically and internationally.
The company on its own and through subsidiaries is currently developing 13 medium and large sized power projects with a combined planned installed capacity of 28,200 MW.
While announcing its audited results, the company informed the stocks exchange that it has posted a net profit after tax of Rs 248.9038 crore for the year ended March 31, 2009 as compared to Rs 94.6689 crore for the year ended March 31, 2008-- a rise of 163 per cent!
Other Income jumped from Rs 132.8674 crore for the year ended March 31, 2008 to Rs 334.7160 crore for the year ended March 31, 2009—a massive rise of 152 per cent.
The consolidated results of the company too were mind-blowing where the net profit increased by 186 per cent. The group has posted a net profit after tax and minority interest of Rs 244.5097 crore for the year ended March 31, 2009 as compared to Rs 85.3793 for the year ended March 31, 2008.
Other income has increased from Rs 1328.925 million for the year ended March 31, 2008 to Rs 3603.785 million for the year ended March 31, 2009—up by 171 per cent.
