Reliance Power has posted a marginal increase in its net profit at Rs 235.48 crore for the July-Sept quarter as against Rs 234.80 crore it posted in the year-ago period. Sales grew 47% at Rs 750.59 crore.
The company in an earnings statement said that their Rosa plant contributed significantly to the overall income of the company. The Plant operated at a plant load factor of 77% by generating 1,030 million units of power compared to 530 MUs which it generated in the corresponding quarter of last year. Net profit for the plant stood at Rs 75 crore from Rs 22 crore.
Shares of the company were up 1.56% at Rs 100.85 on the Bombay Stock Exchange at 13.20 hours.
J.P Chalasani, chief executive officer at the company in an earnings statement said, “Our Rosa plant’s continues to be stable, reconfirming our strong operational capabilities. Also, our under-construction projects are progressing satisfactorily and we are well on track to becoming a 5,000 megawatt company by 2012.”
The company also said that it has tied up loans of Rs 8,000 with EXIM Bank to finance its new projects in Sasan, Samalkot. and its solar PV projects which will be commissioned by March 2012.
The Anil Dhirubhai Ambani Group company is a power developer and owns coal mine assets. Chairman Ambani had told shareholders at the company's annual general meet in September that the company aims to become India's largest green power company.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
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