BSE See NSE See 61,143.33
-206.93 (-0.34%)

Reliance Infrastructure makes another loan default

Amir Shaikh
/ Categories: Trending
Rate this article:
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.


How Covid-19 pandemic changed the life goals of individuals!

According to Wealth Expectancy Report 2021 by Standard Chartered of affluent (comprising emerging affluent, affluent and high net worth) consumers in 12 markets across Asia, Africa, the Middle East and the UK, revealed that in India, 94 per cent have reset their life goals following the pandemic.

Shashikant Singh / Article rating: 5.0

Once in a century, a pandemic has changed the way individuals set their life goals and invest to achieve that.