RPower Q1 net near flat at Rs 196 crore

Reliance Power registered a marginal rise in net profit for the quarter ended June 30.

Fuel cost rose to Rs 307 crore as against Rs 74 crore. This will have little bearing on the plant as the power purchase agreement is ‘cost plus', with coal cost as pass through to the power procurer's account. Moreover, Q1 FY11 had unit one of 300 MW in operation while the quarter under review has unit 2 also of 300 MW online.

The previous year's profit factors in return on investments, said Mr J.P. Chalasani, Chief Executive Officer.

Higher generation

“The Rosa plant operated at a plant load factor of 91 per cent during the quarter and availability was at 94 per cent,” he said.

During the quarter, Rosa phase 1 generating 1,190 million units compared to 455 mu in the corresponding quarter of the previous year. Operating revenues from the 600 MW Rosa plant had gone up near four times to Rs 529 crore from Rs 139 crore.

Rosa Phase 2 of 600 MW was nearing completion and scheduled for commissioning this year. The first two of the six gas turbines for the 2,400 MW Samalkot project in Andhra Pradesh has been installed, while the next two have arrived. The last two turbines have also been despatched and expected to reach this month, he said.

On the gas issue, he said the supply has been assured by the Government which had inspected the plant's progress.

Referring to the 4000 MW Krishnapatnam power project under construction, he said the cost of imported coal impacts all power projects and Krishnapatnam was no exception.

On Thursday, the company scrip on BSE closed marginally higher at Rs 91.30.

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