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Reliance Power, a company controlled by billionaire Anil Ambani, has posted a 22 per cent rise in net profit at Rs 240 crore (Rs196 crore) for the quarter ended June 30.
The company’s operational revenue was up 110 per cent at Rs 1,136 crore (Rs 542 crore) on the back of all four units of its 1,200 MW Rosa plant (Uttar Pradesh) becoming operational as against two units of 300 MW in the corresponding quarter of last year.
Addressing mediapersons, J.P. Chalasani, Chief Executive Officer, said the company’s Rosa plant operated at 81 per cent plant load factor (PLF), generating two billion units against 1.19 billion million units logged in the same period last year.
On the 2,400-MW Samalkot project, he said like price pooling of coal with imported coal, gas should come about. With price pooling it was possible to run the plant at 70 per cent PLF and ensure recovery of the debt service cost. For this to happen, power tariff should be in the range of Rs 4.5-5 a unit.
RINFRA NET FLAT
Reliance Infrastructure (RInfra) posted a 1.72 per cent rise in consolidated net profit at Rs 412 crore (Rs 405 crore) in the June quarter.
A large number of the company’s projects have already been completed and major ones were nearing completion, resulting in the flat growth in net profits, RInfra Chief Executive Officer Lalit Jalan told reporters.
Total income rose four per cent to Rs 5,383 crore, against Rs 5,176 crore logged in the same period last year.
On Tuesday, R Power scrip ended near flat at Rs 93.05 and Rinfra closed 1.53 per cent up at Rs 528.95, on the BSE.
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