• Operational income excluding other operating income was up by 5% to Rs 7105.90 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 36% to Rs 340.92 crore or 5% of sales. While the revenue of electricity energy (excluding regulatory income) was up by 9% to Rs 6506.91 crore (or 92% of sales). The regulatory expense for the quarter was Rs 113.42 crore, a fall of 38%. The revenue of infrastructure business was up by 19% to Rs 235.47 crore (or 3% of sales).
  
• EBIT was up by 2% to Rs 1272.33 crore and that is largely due to growth in profitability of power business. Segment profit of power business was higher by 6% to Rs 1159.76 crore benefited largely by higher sales. Despite higher sales, the segment profit of Infrastructure business was down by 34% to Rs 52.55 crore with its segment margin contract by sharp 1820 bps to 22.3%. The segment profit of EPC was down by 22% to Rs 60.02 crore.

Half yearly performance

Consolidated sales was up by 6% to Rs 14749.10 crore and that with 300 bps expansion in OPM facilitated 20% growth in operating profit to Rs 3844.54 crore. After accounting for lower OI, higher interest and higher deprecation the PBT before RI & EO was down by 35% to Rs 769.27 crore. The regulatory expenses was down by 2% to Rs 350.70 crore and thus the PBT after RI but before EO was down by 50% to Rs 418.57 crore. The EO income jumped by 245% to Rs 295.39 crore and thus the PBT was down by 22% to Rs 713.96 crore. Taxation was a write back of Rs 51.18 crore (against a provision of Rs 100.21 crore in corresponding previous period) and thus the PAT was down by 6% to Rs 765.14 crore. After accounting for higher share of profit from associates, higher share of loss from minority interest and higher loss from discontinued business, the net profit was down by 13% to Rs 877.98 crore.

Other developments

Entered into period of exclusivity with Adani Transmission for sale of integrated Mumbai Power business.

Completed 100% sale of WRSSS transmission project to Adani Transmission for Rs 1000 crore and the entire proceeds of this transaction was utilized for debt reduction. Term sheet signed for sale of Parbati Koldam project with Adani Transmission.

RInfra won Delhi Metro arbitration award against DMRC worth Rs 4700 crore including interest – Hon'ble Delhi High Court has reserved order for the above arbitration claim. The company has also won arbitration award for 2 road projects i.e. NK Toll Road & DS Toll Road worth Rs 170 crore.

EPC order book as end of Sep 30, 2017 stood at Rs 5635 crore compared to Rs 5721 crore as end of June 2017.