Reliance Infrastructure Ltd. is one of the largest infrastructure companies engaged in developing infrastructure projects through various Special Purpose Vehicles (SPVs) in several sectors such as power, roads, metro rail and airport in the infrastructure space and the defence sector. The Company is also a leading utility Company having a presence across the value chain of power businesses i.e. generation, transmission, distribution and power trading.
Q1 FY26 Earnings Summary (Apr–Jun 2025)
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Revenue: ₹5,907.82 crore, down 17.86% YoY, but up 43.81% sequentially QoQ.
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Profit After Tax (PAT): ₹59.84 crore, a rebound from a loss of ₹233.74 crore in Q1 FY25 but down 98.63% QoQ.
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EBITDA: ₹1,494 crore, up 29% YoY.
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Expenses: ₹6,469.81 crore, down 4.84% YoY.
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Operational Efficiency: Transmission and distribution losses reduced below 6.5% on a rolling basis in Delhi Discoms, with 51,434 new households added in this quarter.
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Subsidiary Performance: Mumbai Metro One achieved its highest-ever Q1 fare revenue of ₹84 crore and secured key station branding rights.
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Corporate Developments: Company remains under Corporate Insolvency Resolution Process stay, but claims full payment of disputed dues.
Key Management & Strategic Decisions
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Debt Elimination: Focus on reducing debt, with standalone net debt now zero.
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Growth Areas: Power distribution with improved operational efficiencies, metro rail projects, and emerging defense and aerospace segments through strategic partnerships.
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Sustainability: Emphasis on reducing Transmission & Distribution losses and promoting cleaner energy sourcing.
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Expansion: Added significant new households in power distribution and continued development of metro and infrastructure projects.
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Strategic Collaborations: Ties with global defense companies for aerospace manufacturing.
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Financial Discipline: Improved net worth and margin expansion through operational efficiency and cost management.
Reliance Infrastructure showed a robust financial turnaround in FY25, significantly improving profitability and reducing debt. Though Q1 FY26 revenue declined YoY due to market conditions, profitability returned and operational performance notably improved, positioning the company well for future growth.
Q4 FY25 Earnings Summary (Jan–Mar 2025)
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Revenue: Around ₹23,592 crore for FY25, reported a 7% YoY growth.
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Consolidated EBITDA: ₹8,876 crore in Q4 FY25 after adjusting for an exceptional income of ₹514 crore, up 681% QoQ from ₹1,136 crore in Q3 FY25.
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Profit After Tax (PAT): ₹4,387 crore, a strong turnaround from a loss of ₹3,298 crore in Q3 FY25.
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Net Worth: Increased significantly by 44% QoQ to ₹14,287 crore as of March 31, 2025.
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Debt: Standalone net debt from banks and financial institutions is zero as of March 31, 2025, highlighting debt elimination efforts.
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Expenses: Managed well relative to income, contributing to turnaround.
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Key operational highlights include strong performance in power distribution and metro segments.