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Reliance Power today said that its consolidated net profit remained flat at Rs 240 crore during the first quarter ended June 30, 2013.
The company had reported a net profit of Rs 239.50 crore in the corresponding quarter of the previous financial year, Reliance Power said in a statement.
Total income declined to Rs 1,206 crore from Rs 1,252 crore.
Reliance Power, which has a generation capacity of 2,545 MW, said that the construction work is in progress for the second 660-MW unit of the 3,960-MW Sasan ultra mega power project and the plant is on track to start ahead of the bid schedule.
“Regulatory approval for selling power on cost-plus basis from the 600-MW Butibori power project would pave the way for substantially mitigating the sectoral challenges such as fuel and commercial risks for the plant and I am confident of improved performance once the offtake commences,” J.P. Chalasani, Chief Executive Officer of Reliance Power, said in the statement.
The company’s 45-MW wind project at Vashpet in Maharashtra was commissioned in June.
Construction work is in progress at a 100-MW solar power project at Dhursar in Rajasthan, which is expected to be commissioned this year. The project has received approval for carbon credits.
The company plans to develop coal bed methane-based generation capacity, the statement added.
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