Reliance Power Q1 profit up 12.5% to Rs340 crore
The total income of Reliance Power decreased to Rs.2,748.37 crore for the June quarter from Rs.2,765.39 crore in the year-ago period
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New Delhi: Reliance Power Ltd on Monday posted 12.5% jump in consolidated net profit at Rs.340.49 crore in the first quarter ended June on higher electricity generation.
The group had posted a net profit after taxes, minority interest and share of profit of associates of Rs.302.64 crore for the quarter ended 30 June 2015, Reliance Power Ltd said in BSE filing on Monday. The total income of the company decreased to Rs.2,748.37 crore for the quarter under review from Rs.2,765.39 crore in the year-ago period.
A company official said that the rise in profit was recorded in the first quarter due to higher power generation and better utilisation of plants. The official said that the group has engaged in only one segment viz ‘generation of power’ and as such there is no separate reportable category as per the Ind As-108 ‘Operating Segments’.
The company said that the Sasan Ultra Mega Power Project in Madhya Pradesh generated 8,003 million units, operating at availability of 92.6%. The Rosa Power Plant in Uttar Pradesh generated 2,072 million units, operating at availability of 103%. The Butibori Power Plant in Maharashtra generated 1,116 million units, operating at availability of 103%.
The 40 MW Dhursar Solar PV plant in Rajasthan generated 18.81 million units, operating at availability of 100 per cent. The 45 MW Wind capacity in Vashpet, Maharashtra, generated 24.68 million units, operating at availability of 91%. 100 MW Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, generated 21.6 million units, operating at availability of 87%.
The company has a portfolio of power projects in the private sector based on coal, gas, hydro and renewable energy with an operating portfolio of 5,945 megawatts.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.