Markets
BSE See NSE See 60,103.92
55.45 (0.09%)

Reliance Infrastructure makes another loan default

Amir Shaikh
/ Categories: Trending
Rate this article:
4.9
Reliance Infrastructure makes another loan default

Anil Ambani-led Reliance Infrastructure informed the bourses on Monday that it has defaulted on the repayment of a loan. Its lenders include Jammu & Kashmir Bank and SREI Equipment Finance Limited. 

The company has made a series of defaults in recent times as it was going through a turbulent time even before COVID-19. In the recently concluded quarter (Q1FY21), the company's revenue fell 35 per cent YoY to Rs 3,533 crore while it witnessed a net loss of Rs 290.6 crore in the quarter as against Rs 319 crore profit in the same quarter of the previous year.

The company in its latest quarterly filing has said that it has nearly Rs 60,000 crore of receivables pending for as many as 5-10 years before various forums, which also includes regulatory and arbitration tribunal. The total financial indebtedness of the listed entity includes short-term and long-term debt of Rs 6,487 crore as on July 31, 2020.

The company's stock has deteriorated almost 95 in the last couple of years. The stock in today's trading fell nearly 5 per cent to touch an intraday low of Rs 28.45.

Reliance Infrastructure Ltd is an infrastructure company that engages in developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads, and metro rail in the infrastructure as well as the defence sector.

 

Previous Article Q1FY21 results: NHPC net profit falls 13.52 per cent YoY to Rs 855.49 crore
Next Article Parag Milk Foods Limited launches premium ghee brand
Please login or register to post comments.

Get A Call From Industry Experts

Send Otp

   I authorize DSIJ Pvt Ltd to contact me. This will override registry on the NDNC.

DSIJ MINDSHARE

These Top Performing stocks from the hospitality sector gained up to 23.86 per cent in one week alone!

Travel industry and hotel industry were the most negatively impacted sectors in India, owing to the strict lockdowns.

Yogesh Supekar / Article rating: 3.7
Investors perceive that the hospitality sector stands to gain the most from the aggressive vaccination drive even as the festive season kicks off...

Trending Stocks: Don’t miss these 2 Ceramic stocks that are trading with a price volume breakout!

It is very important that the momentum investors and traders identify the pockets of opportunities in advance, to beat the markets.

Yogesh Supekar / Article rating: 3.4
The shares of Kajaria Ceramics and the shares of Cera Sanitaryware are trading above all the important moving averages i.e 20D SMA, 50D SMA and...
1345Last

Knowledge

Tax Column

Jayesh Dadia, Chartered Accountant

Ninad Ramdasi / Article rating: 3.0

In the latest Olympic Games India’s performance was at an all-time best.

12345Last