Reliance Power profit up 30% on higher generation
The firmís net profit for the October-December quarter increased to R266 crore from R204 crore, a year earlier. Its operating revenue more than tripled to R 1,464 crore.
The Rosa plant operated at an availability of103%. It generated 2,407 million units (MUs) of power in the quarter versus 987 MUs a year earlier.
The company reaffirmed its target to start generating electricity at its flagship Sasan project in Madhya Pradesh six months ahead of schedule. "On the construction side, pre-commissioning activities have started at out 3960 MW Sasan UMPP and the project is all set to be commissioned in this quarter, well ahead of bid schedule," R-Power CEO JP Chalasani said in a statement.
R-Power started coal production from its 20-million-tonne-a-year Moher and Moher-Amlohri mines last September, six months ahead of schedule.
The coal mines were transferred to R-Power when it won the competitive bidding process for the ultra mega power plant in 2007. The project had come under scrutiny last year after a report by the Comptroller and Auditor General (CAG) questioned the allotment of a third mine ó Chattrasal to R-Power ó alleging that the use of surplus coal resulted in massive financial gains for the company.
The 5 MTPA Chhatrasal coal mines have received a first-stage forest clearance.
The company, which has an operating capacity of 1,840 MW, also recently synchronised the second 300 MW
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