Reliance Power, a part of Reliance ADA Group, posted an increase of 22% in the consolidated net profit to R240 crore for the first quarter ended June, against R196 crore for the corresponding quarter last year, as the company?s power generation capacity doubled.
The 1,200 MW Rosa Power Plant in Uttar Pradesh generated 2,055 million units (MUs) in the April-June quarter this year against 1,190 MUs in the year-ago quarter. The company has also synchronised the first 300 MW unit of the Butibori project and had the first full quarter revenues of R24 crore from the 40 MW Dhursar solar photovoltaic plant.
The consolidated total income also surged by a sharp 82% to R1,252 crore against R689 crore for the quarter ended June 30, 2011. Ebitda or operating profit from generating assets increased by 75% to R365 crore against the year-ago period.
?The 1,200 MW Rosa plant in Uttar Pradesh has been operating at a high operational efficiency,? said JP Chalasani, chief executive officer, Reliance Power. ?The 40 MW solar photovoltaic plant that we have built in Rajasthan has contributed to the bottom-line in the first quarter. Work at the Sasan UMPP in Madhya Pradesh and the associated coal mines is in full swing. Coal production is set to begin before the commissioning of the first unit of the Sasan UMPP,? he added.
Reliance Power has a current capacity of 1,540 MW and aims to take it up to 5,000 MW by end of financial year 2012-2013, said Chalasani. The company is looking at commissioning its 600 MW Butibori project in Maharashtra by end of calendar year 2012. The construction on the 3960 MW Sasan UMPP (Ultra Mega Power Project) is also as per plan, said Chalasani.
Reliance Power?s share price closed 0.87% up at R93.05 at Bombay Stock Exchange on Tuesday.
