Reliance Power posts quarterly profit of Rs 240 crore
Reliance Power, part of Anil Ambani group, Monday reported over two percent increase in net profit at Rs 240 crore for the three months ended September.
New Delhi: Reliance Power, part of Anil Ambani group, Monday reported over two percent increase in net profit at Rs 240 crore for the three months ended September.
The entity had a net profit of Rs 235 crore in the second quarter of last fiscal.
Total income of the company rose to Rs 1,181 crore in the 2012 September quarter from Rs 751 crore in the same period a year ago, Reliance Power said in a statement.
"We continue our robust financial performance in the second quarter of FY 2012-13 as revenue from operating assets grew 121 percent to Rs 1,079 crore," Reliance Power Chief Executive Officer J P Chalasani said.
The 40 MW Dhursar solar PV plant in Rajasthan generated a record 13.8 million units in the latest quarter, resulting in a net profit of Rs 6.6 crore.
"The company also made rapid strides in the development of the 3,960 MW Sasan Ultra Mega Power Project with the successful light-up of the boiler of the first 660 MW supercritical unit. Coal production from the associated coal mines has also started and the project is all set to be commissioned in the coming weeks," Chalasani said.
According to the statement, coal production has commenced from the Sasan coal mines. The Moher and Moher Amlori Extn mines, with a capacity of 20 Million tonnes per year, would be India's largest coal mine, it added.
Further, boiler light-up has been achieved for the second 300 MW unit of the Butibori project in Maharashtra, which has a total capacity of 600 MW.
"Civil works is in full swing for the 100 MW Concentrated Solar Power (CSP) project in Dhursar, Rajasthan and the project is expected to be commissioned by May 2013," the statement said.
The 45 MW wind project in Maharashtra is expected to be commissioned by the end of 2012.
Reliance Power has an operating portfolio of 1,540 MW.