Reliance Infra registers 14 pc rise in net profit

Mumbai, July 26 (UNI) Reliance Infrastructure Limited today said it has registered a net profit of Rs 253 crore (US Dollar 59 million) for the first quarter ended June 2008, against Rs 222 crore in the corresponding quarter of previous year, an increase of 14 per cent.

The company's total income for Q1 FY09 stood at Rs 2,618 crore (USD 608 million), against Rs 1,984 crore in the corresponding quarter of previous year, an increase of 32 per cent, a release issued by Reliance Infra said. Cash Profit stood at Rs 316 crore (USD 73 million), against Rs 297 crore in the corresponding quarter of previous year, an increase of 7 per cent.

Annualised Cash Earnings Per Share (Cash EPS) were at Rs 53.7 (USD 1.25), against Rs 53 in the corresponding quarter of previous year.

Annualised Earnings Per Share (EPS) was at Rs 43.2 (USD 1), against Rs 38.8 in the corresponding quarter of previous year, an increase of 11 per cent, th release said.

The shareholders of the company approved a buy-back of the equity shares for an aggregate amount of up to Rs 2,000 crore. As on July 25, 2008, the company has bought-back 56,60,000 equity shares aggregating to Rs 630 crore (USD 146 million). The Company has Rs 10,182 crore (US$ 2.4 billion) of cash&cash equivalent as on June 30, 2008. The Company remains debt free at the net level, the release said.

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