Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Reliance Power Q4 net profit rises 15.8%, misses estimates
BackBack

Reliance Power Q4 net profit rises 15.8%, misses estimates

Reliance Power generated 10,632 million units of power during the March quarter, 42,490 million units for the full year ended 31 March

Consolidated net profit during the quarter rose to `320.16 crore for the quarter against `276.47 crore a year earlier. Photo: BloombergPremium
Consolidated net profit during the quarter rose to `320.16 crore for the quarter against `276.47 crore a year earlier. Photo: Bloomberg

Mumbai: Anil Ambani-led power producer Reliance Power Ltd on Friday said consolidated net profit in the March quarter rose 15.8% as its plants performed better. The numbers, though, fell short of analysts’ expectations.

Consolidated net profit during the quarter rose to 320.16 crore for the quarter against 276.47 crore a year earlier. Net sales rose 64.3% to 2604.38 crore, from 1584.93 crore a year ago.

Seven analysts polled by Bloomberg had expected Reliance Power to report a consolidated net profit of 367 crore, while eight analysts had expected net sales of 2559.10 crore.

Reliance Power generated 10,632 million units of power during the March quarter. A company spokesperson said the 3,960 megawatt (MW) Sasan Ultra Mega Power Project (UMPP) generated 8,232 million units.

For the full year ended 31 March, Reliance Power generated 42,490 million units. The year-earlier numbers were not available for comparison.

Total expenses in the March quarter rose about 58% to 1627.63 crore from 1029.11 crore a year earlier.

Reliance Power shares closed up 7.51% at Rs.52.25 on the BSE on Friday, while the benchmark Sensex index closed at 26,653.60 points.

Reliance Power operates nearly 6,000MW of power capacity across its projects based on coal, gas, hydro and renewable energy.

As of 30 September, the company had consolidated long-term debt of 28,691.86 crore and short-term debt of 2,746.36 crore.

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 27 May 2016, 10:56 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie