RINFRA reported a loss of Rs 449 crore in the March quarter

On Friday, Reliance Infrastructure reported a loss of Rs 449.13 crore for the March 2022 quarter.

The company reported consolidated net profit of Rs 1,611.02 crore for the same quarter of FY21, a BSE filing said.

Total revenue for the quarter under review fell to Rs 4,467.61 crore from Rs 7,860.81 crore in the year-ago period.

In FY22, the company reported a consolidated net loss of Rs 938.39 crore, up from a combined net profit of Rs 1,125.25 crore in the previous fiscal.

The total income in the financial year also decreased from Tk 20,914.89 crore to Tk 19,132.55 crore in 2020-21.

It said that in FY22, the Delhi Metro Rail Corporation paid Rs 1,766 crore to Delhi Airport Metro Express Limited in lieu of arbitration award, which was used to reduce the debt.

Reliance Infrastructure is one of the largest infrastructure companies, developing projects in various high growth sectors such as power, road and metro rail infrastructure space and defense sector through various Special Purpose Vehicles (SPVs).

Reliance Infrastructure is a major player in providing engineering and construction (E&C) services for power, infrastructure, metro and road projects.

Reliance Infrastructure has executed a portfolio of infrastructure projects through its SPV, such as the construction of a metro rail project in Mumbai, on its own, Operation and Transfer (BOOT) basis and nine Road Construction, Operation and Transfer (BOT) basis.

Reliance Infrastructure also has a presence in the power distribution business.