Reliance Energy has posted a 35 per cent growth in profit after tax (PAT) at Rs 1,085 crore for the year ended March 31, 2008 (FY08), as compared with Rs 801.4 crore in FY07. Total income grew 14 per cent to Rs 7,501 crore, as against Rs 6,575 crore in FY07. In the fourth quarter ended March 31, the net profit grew 31 per cent to Rs 311 crore from Rs 237 crore in the corresponding period a year ago.
Aggregate sales of electricity stood at 9,292 million units in FY08, an increase of 6 per cent as compared with 8,766 million units in the previous year. Revenues from energy sales during FY08 stood at Rs 4,920 crore as against Rs 3,611 crore in 2006-07. During FY08, the customer base in the Mumbai increased by 0.13 million to 2.63 million. Its Dahanu Thermal Power Station achieved a plant load factor (PLF) of 101.5 per cent. The company gained about Rs 1 crore from its exposure to derivatives. The engineering, procurement and construction division has orders worth Rs 7,850 crore, an increase of 50 per cent over the previous year. The company has cash and cash equivalents of Rs 9,596 crore. Company has renamed itself Reliance Infrastructure.
We expect Reliance Infrastructure to perform well in the years ahead since it is currently executing infrastructure projects worth about Rs 16,000 crore in two years besides various Reliance Power projects. The company is developing two metro rail projects in Mumbai and Delhi, five road projects in Tamil Nadu, two SEZs and a business district in Hyderabad.
Read More...
Summary only...
Infrastructure Development Finance Company Ltd (IDFC) has posted over 60 per cent increase in net profit at Rs 149.4 crore for the quarter ended March 31, 2008 as compared to Rs 92.9 crore for the quarter ended March 31, 2007. Total income increased by 80.8 per cent to Rs 773.4 crore for January-March period of 2007-08 from Rs 427.7 crore for the corresponding period in 2006-07.
For the year ended March 31, IDFC has posted a 47 per cent increase in net profit at Rs 742.1 crore as compared to Rs 503.9 crore for the year ended March 31, 2007. Total income has increased by 78 per cent to Rs 2,804.5 crore for 2007-08 from Rs 1571.3 crore for 2006-07.
Read More...
Summary only...
Cement demand outlook this fiscal is expected to remain healthy, driven by rising investment in construction and real estate sectors, according to Centre for Monitoring Indian Economy (CMIE). CMIE expects cement production to grow 11.5 per cent and cement consumption 12 per cent during FY09.
The total annual installed capacity of the cement sector increased by about 22 million tonnes during FY08, of which 12.7 million tonnes were added during the March 2008 quarter. The CMIE expects another 25 million tonnes of new capacity to come on-stream in FY09. Northern region, which has seen additional capacity of around 15 million tonnes in FY08, will see an addition of another 7-8 million tonnes in 2009. Western and Eastern regions would continue to face a deficit. However, surplus volumes from the North are expected to meet demand in other regions. Sales volumes would drive the sectors growth during the fiscal. With limited year-on-year rise in realisations, the measures to improve cost efficiencies would play a significant role in determining the sectors profitability.
Read More...
Summary only...
