Reliance Infra’s net loss narrowed to INR 47 crore in the March quarter | Daily News Byte

The company reported a consolidated net loss of ₹153.84 million in the year-ago period, the BSE filing said.

The company’s consolidated revenue during the January-March quarter increased to ₹4,610.72 million more ₹4,012.87 million in the period of one year ago, according to the submission.

The company further said that Covid-19 continues to spread across the world and in India and has impacted operations by disrupting construction activities, metro operations, toll collection, supply chain disruptions, staff unavailability and closure/closure of various facilities. , among others.

“To mitigate the group’s cash flow impact, it has availed moratorium on term loans in respect of certain subsidiaries (Delhi Discoms and selected toll companies) as per RBI guidelines, wherever applicable,” the company said.

In a statement, the company said it aims to be zero debt by the end of FY’22 based on liquidity events.

In FY’21, independent debt was reduced by 33 percent to ₹3,808 crowns vis-a-vis ₹5,701 million in the fiscal year 2020, according to the announcement.

Reliance Infrastructure is one of the leading infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high-growth sectors such as power, roads and metro rail in the infrastructure space and defence.

Reliance Infra is a leading player in providing engineering and construction services for the development of power, infrastructure, metro and road projects.

The company through its SPVs has executed a portfolio of infrastructure projects such as the Mumbai Metro Rail project on a build, own, operate and transfer (BOOT) basis; nine road projects on a Build, Operate and Transfer (BOT) basis. RInfra is also a leading utility company with a presence in the electrical industry, i.e. electricity distribution.

This story was published on the agency’s channel without changes in the text.