Reliance Power Q1 net profit declines 32% to Rs231 crore
New Delhi: Reliance Power on Monday posted a 32% decline in consolidated net profit at Rs230.8 crore for the quarter ended 30 June 2017 on increase in finance cost.
The company had posted a consolidated net profit of Rs340.4 crore in the corresponding quarter of the previous fiscal, Reliance Power said in a filing to BSE.
The company's consolidated total income was at Rs2,752.3 crore from Rs2,748.3 crore in the year-ago period.
Consolidated expenses increased to Rs 2,425.4 crore, compared to Rs 2,329.3 crore in the corresponding quarter of the previous fiscal.
A company official attributed the decline in consolidated net profit to increase in finance cost. The company's finance cost during April-June quarter increased to Rs766 crore, compared to Rs645.9 crore in the year-ago period.
"The Sasan UMPP in Madhya Pradesh gsenerated 7,531 million units, operating at availability of 89 per cent," the company said in a statement. Captive coal blocks of Sasan ultra mega power projects (UMPP) produced 4.4 million tonnes of fossil fuel. "The total volume including overburden removal handled by coal mine of Sasan was 20 MCuM in Q1FY18," the statement said.
The company's Rosa Power Plant in Uttar Pradesh generated 2,245 million units of electricity, operating at availability of 100 per cent.
"The Butibori Power Plant in Maharashtra, generated 842 million units, operating at availability of 76 per cent. The 40 MW Dhursar Solar PV plant in Rajasthan generated 18.40 million units, operating at availability of 100 per cent," it added.
"The 45 MW wind capacity in Vashpet, Maharashtra generated 22.62 million units, operating at availability of 95%. 100 MW Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, generated 31 million units operating at availability of 99 per cent," the statement added.
Reliance Power Ltd is a leading power generation firm which has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy.
The company has an operating portfolio of 5,945 MW. Shares of the company closed at Rs45.40 a piece on BSE, up 0.11% from the previous close.
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.