ALSO READJio, petrochemicals power RIL's Q3 show, net profit rises 25% to Rs 94.2 bn Reliance Power Q1 net dips 32% owing to higher expenses ADB lends $583 mn for Reliance Power's 750-Mw project in Bangladesh ADAG Group stocks : RCom down 15%, Reliance Nippon falls below issue price RIL Q2 consolidated net rises 12.5% to Rs 8,109 cr; Jio's loss at Rs 271 cr
Anil Ambani-led Reliance Power (RPower) reported a marginal rise in net profit for the December quarter at Rs 2.8 billion. The company's operating revenue declined 10 per cent, profits were helped by a fall in total expenses, including depreciation.
RPower reported a net profit of Rs 2.8 billion in the December quarter, 2 per cent higher from Rs 2.76 billion in the corresponding quarter, a year back. In the same period, the company's operating revenue declined 10 per cent to Rs 24.95 billion.
Total expenses dipped 16 per cent at Rs 22.35 billion for the quarter under review. The decline in depreciation and amortization expenses helped bring down total expenses for the company.
Sharing details on the company's operations, RPower in its release said, the Sasan Ultra Mega Power Plant was operating at a plant load factor (PLF) of 95 per cent, while PLF for its Buitbori plant was at 80 per cent, Rosa at 73 per cent. In its renewable energy portfolio, the Rajasthan solar plant was operating at a PLF of 19 per cent, while its Maharashtra wind capacity was at 7 per cent.