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Reliance Power has posted a 7.5 per cent rise in net profit at Rs 144 crore for the quarter-ended December 31 2010, compared with Rs 134 crore logged in the same period last year.
Total income was Rs 355 crore (Rs 179 crore). There was no operating income in the last year period and only returns on IPO proceeds were registered.
Mr J.P. Chalasani, CEO, Reliance Power, said the operation of the 600 MW Rosa unit had stabilised since December 17. Coal was a blend, with 60 per cent coming from linkage and balance being made up market and import in equal quantity.
Work on the 2,400 MW gas based power plant at Samalkot is on track to begin commissioning by year end. The first two gas turbines will be shipped from the US in May 2011. Primary inspection was complete and the project was ready for receipt of gas on Government approval. On whether gas was assured, he said the Group of Ministers had sought the inspection report and going forward it was expected that the supply would come. Asked whether contingency plans were in place in case gas supply did not come, he said no corporate worked without a contingency plan in place.
About Rs 6,500 crore of the Rs 11,450 crore IPO proceeds was said to remain with the company.
R Power scrip on BSE closed 2.48 per cent higher at Rs 117.10 on Monday.
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