REL Q3 net rises 22% to Rs 201 cr

Mumbai, Jan 18 | Updated: Jan 19 2007, 05:41am hrs
Reliance Energy Ltds (REL) net profit in Q3, 2006-07 rose 22% to Rs 201 crore from Rs 164.64 crore in Q3, 2005-06. Income for the quarter increased to Rs 1,820.43 crore from Rs 1,137.63 crore, a rise of 60%.

RELs net for nine months increased by 17% to Rs 564.03 crore from the corresponding previous periods Rs 480.87 crore. Its total income shot up to Rs 4,685.58 crore from Rs 3,383.43 crore, an increase of 17%.

During the third quarter, RELs cost of electricity energy purchased increased to Rs 455.82 crore from Rs 264.18 crore and the cost of fuel rose to Rs 224.04 crore from Rs 209.88 crore.

The cost of energy purchased for nine months increased by 32% to Rs 1,104 crore owing to higher peer unit cost. REL was recently outbid by Lanco in the 4,000 MW Sasan ultra mega power project.