RPower net profit slips 32% on low PLFs

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Published: January 25, 2019 12:37:34 AM

Reliance Power on Thursday reported a 32.46% year-on-year fall in its net profit to Rs 189.34 crore for the October-December quarter, as total income fell around 17% to Rs 2151.4 crore on account of lower plant load factor (PLF) of its major power plants.

reliance power, reliance power profit, reliance power net profitRPower net profit slips 32% on low PLFs

Reliance Power on Thursday reported a 32.46% year-on-year fall in its net profit to Rs 189.34 crore for the October-December quarter, as total income fell around 17% to Rs 2151.4 crore on account of lower plant load factor (PLF) of its major power plants.

Revenue from operations during the quarter fell 15.80% to Rs 2,100.34 crore, even as expenses for the period fell 14.26% to `1916.72 crore.

The company did not share the total generation in million units from all its plants. However, the PLFs fell drastically barring at Sasan UMPP. The 4,000 MW, Sasan Ultra Mega Power Project in Madhya Pradesh operated at a plant load factor of 97% against 95% a year ago. The 600 MW Butibori plant in Maharashtra operated at a PLF of 55.3% vs 80% a year ago, while the 1,200 MW Rosa power plant in Uttar Pradesh operated at 33.9% compared with 73% PLF a year ago. The company did not disclose the reasons for the drop in thePLF.

Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 5.8% to `1,126.38 crore on account of lower income, even as fuel costs and employee costs dropped during the period. The EBITDA margin for the period rose 566 basis points to 53.62%. The fuel cost fell by 31.7% on year to 686.13 crore, while the employee cost was down at `49.79 crore, compared with `51.36 crore in the year-ago period.

The finance cost was down at `739.89 crore, compared with `748.51 crore, while depreciation and amortisation was higher at `202.87 crore, against `188.22 crore.
The company, barring Sasan UMPP, generated a total of 1,678 million units of power from Rosa, Butibori, two solar and one wind project.

The total generation from Sasan, a major contributor, was not shared by the company.

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