Rel Infra to buy back Rs 1,000 cr shares at Rs 725

Anil Ambani-led Reliance Infrastructure on Monday said it would buy back Rs 1,000 crore worth of shares at a price of Rs 725 a piece.

"Board of Directors of Reliance Infrastructure on Monday approved a buy-back of its outstanding shares for an aggregate amount of up to Rs 1,000 crore," a company release said.

Reliance Infra will buy-back shares up to a maximum price of Rs 725, a premium of approximately 17 per cent to the last closing share price, it said.

The company has done three buy backs for an aggregate amount of Rs 923 crore.

Meanwhile, Reliance Infra on Monday posted a 10.16 per cent rise in net profit for the quarter that ended December 31, to Rs 405.25 crore. The company had reported a net profit of Rs 367.87 crore for the same period last year.

Total operating income of the company rose to Rs 3,744 crore in the reviewed period from Rs 3,287 crore in the corresponding quarter a year ago, it added.

Shares of the company were trading at Rs 624, up 1.35 per cent on the Bombay Stock Exchange.