• Operational income excluding other operating income was up by 2% to Rs 5659.34 crore and the up side was largely due to growth in revenue of power and infrastructure business. The revenue of EPC contract business was down by 76% to Rs 181.46 crore. While the revenue of electricity energy (excluding regulatory income) was up by 13% to Rs 5225.14 crore. The regulatory expense for the quarter was Rs 287.72 crore, a fall of 55%. The revenue of infrastructure business was up by 21% to Rs 252.74 crore.
• EBIT was up by 30% to Rs 1334.36 crore and that is largely due to sharp growth in profitability of EPC business. Segment profit of power business was higher by 17% to Rs 1032.31 crore as marginally higher sale was backed by higher margin. Despite higher sales, the segment profit of Infrastructure business was down by 7% to Rs 80.49 crore with its segment margin contract by sharp 1010 bps to 30.6%. The segment profit of EPC jumped up by 280% to Rs 221.56 crore with its segment margin zoom to 78.8% compared to 7.8% in corresponding previous period.

Nine month performance

Consolidated sales was up by 5% to Rs 20610.19 crore and that with 480 bps expansion in OPM facilitated 30% growth in operating profit to Rs 5209.82 crore. After accounting for lower OI, higher interest and higher deprecation the PBT before RI & EO was down by 32% to Rs 630.75 crore. The regulatory expenses was Rs 62.99 crore compared to an income of Rs 264.14 crore in corresponding previous period. Thus the PBT after RI but before EO was down by 52% to Rs 567.76 crore. The EO income jumped by 245% to Rs 295.39 crore and thus the PBT was down by 33% to Rs 863.15 crore. Taxation was a write back of Rs 146.70 crore (against a provision of Rs 147.50 crore in corresponding previous period) and thus the PAT was down by 11% to Rs 1009.85 crore. After accounting for lower share of profit from associates, lower share of loss from minority interest and higher loss from discontinued business, the net profit was down by 15% to Rs 1179.36 crore.

Other developments

Order book as end of Dec 31, 2017 stand at Rs 10500 crore with the company won EPC orders worth Rs 5900 crore across power and road sector.

RInfra wins Delhi Metro arbitration award against DMRC worth about Rs 5000 crore including interest – Hon'ble Delhi High Court has reserved order for the above arbitration claim. The company won arbitration award for 2 road projects i.e. NK Toll Road & DS Toll Road worth Rs 170 crore.