Reliance Power Q2 net profit soars 36.6% to Rs345.63 crore
03 Nov 2015
Anil Ambani-led Reliance Power Ltd has reported a 36.6-cent year-on-year rise in net profit for the quarter ended 30 September 2015 at Rs345.63 crore against Rs253.07 crore during July-September 2014-15.
Total consolidated net income of the company rose 55.1 per cent to Rs2,766 crore from Rs1,783.24 crore a year earlier helped by higher performance across the company's plants, especially increased production at its Sasan power project in Madhya Pradesh.
The 3,960 megawatt (MW) Sasan Ultra Mega Power Project (UMPP) reached full-operations in the June quarter. Reliance Power started commissioning the plant's capacity in phases beginning 2013. The plant generated 7,922 million units of power in the September quarter.
Reliance Power operates nearly 6,000 MW of power capacity across its projects, which include plants based on coal, gas, hydro and renewable energy.
The company's five plants are operating at plant load factor (PLF) of between 83-97 per cent and generated total power of 11,153 million units during the quarter.
The Sasan Ultra Mega Power Projects (UMPP) in Madhya Pradesh generated 7,922 million units operating at an availability of 90 per cent.
The Rosa Power Plant in UP generated 2,187 million units operating at an availability of 87 per cent and a plant load factor (PLF) of 83 per cent.
The Butibori Power Plant in Maharashtra, generated 944 million units, at 88 per cent availability and a PLF of 71 per cent.
The 40 MW Dhursar Solar PV plant in Rajasthan generated 16 million units at availability of 95 per cent.
The 45 MW Wind capacity in Vashpet, Maharashtra generated 34 million units at availability of 97 per cent.
The 100 MW Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, the largest CSP plant under government's National Solar Mission, has commenced power generation. It is the world's largest CSP plant based on CLFR technology, the company said.
The government had, on 7 May, de-allocated the Chhatrasal coal block that had been allotted to Reliance Power's subsidiary Sasan Power Ltd in 2006 through competitive bidding.
The government has now justified the cancellation of one of three coal blocks allocated to Reliance Power Ltd's Sasan UMPP, saying the unit's coal requirement could be met by the other two.
Reliance Power said it total expenditure in the quarter rose 37.2 per cent to Rs1,809.44 crore.
As of 30 September, the company had consolidated long term borrowing of Rs28,691.86 crore and short-term borrowing of Rs2,746.36 crore.
Shares of Reliance Power closed 0.70 per cent lower at Rs.49.45 apiece on BSE on Tuesday, while the benchmark Sensex gained 0.12 per cent at 26,590.59 points.
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