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
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.
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