Reliance Power Q4 net at Rs 250 cr up 16% on higher generation

Mumbai: Reliance Power on Thursday posted a 16 per cent rise in its net profit for the fourth quarter ending March at Rs 250 crore on account of higher electricity generation.

The company posted a profit of Rs 216 crore in the same quarter of 2016-17, it said in a statement here.

During the quarter in consideration, Reliance Power’s total income, including revenue from operations, at Rs 2,400.58 crore, however, came in lower as compared to Rs 2,596.5 crore earned in the same period a year ago.

For the entire fiscal 2017-18, net profit was lower at Rs 1,034.81 crore, as compared to the profit after tax of Rs 1,104.16 crore in the previous year.

Total income for the last fiscal at Rs 10,122.9 crore was also lower as compared to Rs 10,891.7 crore during 2016-17.

The company said its 3,960 MW Sasan Ultra Mega Power Plant (UMPP) in Madhya Pradesh generated 31,793 million units operating at a plant load factor (PLF) of 91.6 per cent, the highest among all the 1,000 MW thermal plants in the country.

The Sasan UMPP’s captive coal mines produced 18 million tonnes of fuel, the highest among the private sector miners in the country, the statement said.

The company’s 1,200 MW Rosa Power Plant in Uttar Pradesh generated 7,719 million units of electricity operating at a PLF of 73 per cent, while the 600 MW Butibori Power Plant in Maharashtra generated 3,307 million units operating at a PLF of 63 per cent.

The statement said the Asian Development Bank has approved $583 million loan for the proposed 750 MW gas-based power plant and liquefied natural gas (LNG) terminal project in Bangladesh.

The Reliance Power stock closed on Thursday at Rs 40 a share, up 45 paise, or 1.14 per cent, over its previous close on the BSE.