Reliance Power Q3 profit rises marginally at Rs280 crore
New Delhi: Reliance Power on Tuesday reported 1.7% rise in consolidated net profit to Rs280.34 crore for the December quarter of the current fiscal due to drop in finance and depreciation costs. Its profit was Rs275.7 crore in the October-December quarter of last fiscal 2016-17, R-Power said in a BSE filing.
However, the company’s total income was down at Rs2,590.32 crore in the quarter under review, as against Rs2,984.56 crore in the year-ago period. Its revenue from operations fell to Rs2,494.65 crore, from Rs2,777.75 crore.
The finance cost of the company came down to Rs748.51 crore in third quarter of 2017-18, from Rs766.22 crore in the same period of last fiscal. Depreciation and amortisation expenses also dipped to Rs188.22 crore for the quarter, from Rs268.09 crore a year ago.
Reliance Power said in a statement that its coal output was 4.6 million tonnes during the quarter under review.
Besides, it operated at high plant load factor (PLF) or capacity utilisation. Its Sasan Ultra Mega Power Project in Madhya Pradesh generated 8,274 million units, operating at PLF of 95%.
Similarly, the 100 MW Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, generated 27 million units vis-a-vis 21 million units, operating at availability of 98%.
A part of the Reliance Group, Reliance Power has a portfolio of power projects based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.
The Reliance Power stock closed 1.18% up at Rs47.30 on BSE.
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.