Business Daily from THE HINDU group of publications
Thursday, Jul 19, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jul 19, 2007 ePaper |
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Corporate Results
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Power
Our Bureau Mumbai, July 18 Reliance Energy Ltd has posted 25.45 per cent rise in net profit at Rs 221.56 crore for the quarter ended June 30, 2007, compared with Rs 176.61 crore posted during the corresponding quarter of the previous year. Total income increased by 49.62 per cent to Rs 1,983.93 crore (Rs 1,325.97 crore). The income from sale of electricity increased by 41 per cent to Rs 1,285.40 crore (Rs 911.58 crore). However, the cost of electricity purchase and fuel have gone up from 60 to 73 per cent on every rupee of income earned from sale of electricity. The income from EPC and contracting business have increased by 42.71 per cent to Rs 338.61 crore (Rs 237.27 crore). Other income has shown a sharp increase of 103.20 per cent to Rs 359.92 crore (Rs 177.12 crore). The company has changed the accounting policy from April 1, which has re-valued the foreign exchange derivate instruments and impacted the profits by Rs 82.6 crore. The impact is reflected in the profit and loss account.
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