Mumbai: Anil Ambani led Reliance Power Thursday posted an increase of nearly 24 percent in net profit at Rs 231.3 crore for the fourth quarter ended March 31, 2012, on higher operating revenues primarily driven by the commissioning of Rosa plant.
The private-sector power company had posted a net profit of Rs 186.62 crore in the January-March, 2011 period.
Total income of the company during the quarter rose to Rs 653 crore from Rs 598 crore.
For the financial year 2011-12, RPower's consolidated net profit grew 14 percent to Rs 867 crore compared to Rs 760 crore in 2010-11.
Total income rose to Rs 2,767 crore from Rs 1,892 crore in the previous fiscal.
"The growth in profit has been mainly on the back of improved efficiency which has resulted in a significant growth in operating revenue," Reliance Power Chief Executive J P Chalasani told reporters while announcing the results here.
"Improved efficiency and timely commissioning of our projects have aided growth in operating revenues. Our 600-mw Rosa Phase I plant in UP operated at an availability of over 86 percent during the year and generated a net profit of Rs 335 crore, a growth of nearly 155 percent.
"We have also commissioned the country's largest 40mw solar project in Rajasthan in 129 days," Chalasani said.
The company commissioned the 600-MW Phase II of the 1,200-mw Rosa plant four months ahead of schedule, again showcasing our strong project execution abilities, he said.
RPower has also completed the boiler hydro test for the first phase of 660-mw of the upcoming 3,960-mw Sasan ultra mega power project (UMPP) in Madhya Pradesh.
"The first unit is expected to be expected to be commissioned by this December. Similarly, the 600- mw Butibori project in Maharashtra is set to be commissioned in the second quarter of this fiscal," he said.
On a standalone basis, the company reported a net profit of Rs 30.77 crore in the three months ended March, 2012 against Rs 62.72 crore in the year-ago period.
Standalone total income stood at Rs 26.37 crore in the latest March quarter compared to Rs 100.92 crore.
For the full fiscal, its standalone net rose to Rs 310.86 crore from Rs 274.55 crore.
Total standalone income rose to Rs 531.85 crore in the last financial year compared to Rs 470.47 crore in FY11.
First Published: Thursday, May 24, 2012, 23:02