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R-Power posts net profit of Rs196 crore

R-Power posts net profit of Rs196 crore
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First Published: Thu, Aug 11 2011. 02 38 PM IST
Updated: Thu, Aug 11 2011. 02 38 PM IST
Mumbai: Reliance Power Ltd (R-Power), the power generation arm of Anil Ambani-led Reliance Group, posted a net profit of Rs196 crore for the quarter ended 30 June, a marginal improvement over profit after tax of Rs195.40 crore a year ago.
Operating revenue soared 300% to Rs542 crore in the first quarter of fiscal 2012, driven by improved operational performance at a thermal power plant in Rosa, Uttar Pradesh.
Total revenue for the quarter was 72% higher at Rs689 crore. It included other income—mostly from investments—of Rs147.43 crore.
Reliance Infrastructure Ltd (R-Infra), the infrastructure arm of Reliance Group, saw consolidated net profit in the June quarter rise to Rs405.3 crore, 8% higher than a year earlier, it said on Thursday.
The rise in profit was accompanied by a 34.5% jump in consolidated revenue to Rs5,319.5 crore.
Departing from their earlier practice, R-Power and R-Infra declared results while the market was open, reflecting the management’s satisfaction with the quarter’s performance.
At the time of writing this report, R-Infra’s shares were trading up 2.8% at Rs485.15 per share on the Bombay Stock Exchange, while R-Power’s shares had risen 1.27% to Rs92.05 per share. The benchmark Sensex was 0.25% higher.
aveek.d@livemint.com
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First Published: Thu, Aug 11 2011. 02 38 PM IST