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.