The Hindu Business Line : Reliance Energy Q3 net up 22 pc

Reliance Energy, part of the Anil Dhirubhai Ambani Group, has reported a 22 per cent jump in its net profit for the third quarter of the current fiscal at Rs 201.03 crore, against Rs 164.64 crore in the corresponding quarter of the last fiscal.

During the quarter, its income was Rs 1,820.43 crore, against Rs 1,137.63 crore in the year-ago period. Significantly, the company's income from EPC and contracts registered a sharp increase to Rs 612.63 crore from Rs 173.07 crore.

Turnover

In the nine-month period ending December 31, 2006, the company's EPC and contracts turnover was Rs 1,352.61 crore, against Rs 572.91 crore in the corresponding previous period, representing an increase of 136 per cent. This division has an order-book position of about Rs 1,710 crore.

During the nine-month period, the company's net profit and total income stood at Rs 564.03 crore and Rs 4,685.58 crore, as compared with Rs 480.87 crore and Rs 3,383.43 crore in the corresponding period of last year respectively.

The group distributes nearly 21 billion units of power to over five million consumers in Mumbai, Delhi, Orissa and Goa. Reliance Energy, ranked among the country's top 20 listed private companies, generates 941 MW of power through its plants located in Maharashtra, Andhra Pradesh, Kerala, Karnataka and Goa.

Energy sales

The company's aggregate revenues from energy sales alone during the nine-month period touched Rs 2,744 crore, against Rs 2,399 crore in the corresponding previous period. During this period, the company recorded an increase in consumer base in Mumbai supply area by about 0.20 lakh to touch 25.6 lakh consumers.

The company's scrip slid by 1.27 per cent on the BSE on Thursday to close at Rs 528.10.

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