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REL declares 14 p.c. in Q4

MUMBAI: Backed by huge growth in its EPC and contracts business, Anil Ambani controlled Reliance Energy on Thursday reported a 39.07 per cent rise in net profit at Rs. 520.29 crores for the fiscal ended March 31, 2005. The board declared a quarterly dividend of 14 per cent taking the total dividend outgo to 47 per cent for the reporting fiscal. Its net profit stood at Rs. 374.12 crores in 2003-04.

Total income rose to Rs. 4,592.55 crores from Rs. 3,582.70 crores, a company release said. While net sales from energy during the last fiscal remained flat at Rs. 2,895.99 crores against Rs. 2,820.96 crores, income from Engineering Procurement and Construction (EPC) and contracts doubled to Rs. 1,234.68 crores (Rs. 578.55 crores).

The EPC and contracts division has an order book position of about Rs. 3,500 crores compared to Rs. 1,200 crores. The company has decided to `slightly revise' the time schedule for its upcoming gas-based 3,740 MW project at Dadri in Uttar Pradesh.The net profit for the fourth quarter ended March 31, 2005 rose to Rs. 147.93 crores from Rs. 103.79 crores in the previous fiscal.

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