Reliance Power Q3 net profit zooms over 30%

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Reliance Power today reported over 30 per cent jump in net profit at Rs 266 crore. (Reuters) Reliance Power today reported over 30 per cent jump in net profit at Rs 266 crore. (Reuters)
SummaryThe company's total income grew over two-fold at Rs 1,586 crore for the September-December period.

Reliance Power today reported over 30 per cent jump in net profit at Rs 266 crore for the third quarter ended December 31, 2012.

The company had recorded a net profit of Rs 204 crore in the same period, last fiscal.

"The third quarter has proved to be an excellent one for the company as we turned in outstanding operational and financial numbers.

"The net profit for the quarter grew 30.39 per cent aided by record generation from our 1,200 MW Rosa power plant," J P Chalasani, Chief Executive Officer of Reliance Power, said in a company statement.

He said the pre-commissioning activities have started at the 3,960 MW Sasan Ultra Mega Power Project and the project is all set to be commissioned in this quarter.

Coal production has already commenced from the project's other captive coal mines, the 20 (million tonnes per annum) MTPA Moher and Moher Amlori Extension mines, the release said.

The company's total income grew over two-fold at Rs 1,586 crore for the September-December period.

It had reported a total income of Rs 674 crore in the third quarter of the previous financial year (2011-12).

The company said, its 1,200 MW Rosa Power Plant in Uttar Pradesh generated 2,407 million units (MUs) during the period as against 987 MUs in the same period, last fiscal (2011-12).

Company's 40 MW Dhursar solar PV (photo-voltaic) plant in Rajasthan generated a record 15.2 MUs in this quarter which resulted in a net profit of Rs 12 crore, it said.

Reliance Power said, "Construction work is on at the 100 MW Concentrated Solar Power (CSP) project in Dhursar, Rajasthan and the project is expected to be commissioned in first quarter of FY'14".

This project is part of government's National Solar Mission.

The company's 45 MW wind project in Maharashtra is in its final stages of implementation and is expected to be commissioned by the end of March 2013, the statement added.

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