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Our Bureau

Mumbai, July 27 Riding on higher sales of electrical energy and income from EPC contracts, Reliance Infrastructure Ltd, for the quarter ended June 30, has posted 14 per cent increase in net profit at Rs 252 crore up from Rs 221 crore achieved in the year ago quarter.

The net sales increased by 35 per cent at Rs 2,198 crore (Rs 1,624 crore).

Net sales of electrical energy increased by 37 per cent at Rs 1,763 crore (Rs 1,285 crore). EPC income increased by 28 per cent at Rs 434 crore (Rs 338 crore). At the end of the quarter, the EPC division had an order book position of about Rs 21,044 crore.

The company, in a statement, said it has achieved aggregate sales of electrical energy of 2,539 million units for the quarter under review against 2,489 million units in the corresponding quarter of previous year, an increase of two per cent.

During the period, the company purchased 1,449 million units of electrical energy from external sources, which is higher by eight per cent compared to the offtake in the same quarter last year.

The cost of energy purchased increased by 61 per cent to Rs 1,081 crore, owing to increase in units purchased as well as increase in per unit fuel cost, the statement 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, it has bought back 56,60,000 equity shares aggregating Rs 630 crore.

On Friday, the scrip at the closing of the market hours on BSE was traded at Rs 984.65 a decline of 4.12 per cent over the previous close of Rs 1,027.

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