R-Power's June quarter net falls 25%

Reliance Power has posted a 25 per cent decline in net profit at Rs 195.40 crore for the quarter ended June this year, as compared to Rs 263.3 crore in the same quarter last year.

The company’s income, however, grew by 27.1 per cent to Rs 426.75 crore for the June quarter against Rs 335.5 crore in the same period last year, it company said in a statement. R-Power has cash and liquid balances of Rs 7,820 crore.

During the quarter, it achieved financial closure of its 4,000 Mw Krishnapatnam Ultra Mega Power Project in Andhra Pradesh. The project is estimated to cost Rs 17,500 crore.

The first stage of the 1,200 Mw Rosa Power Project at Shahjahanpur, UP (600 Mw) has been fully commissioned, with the second unit of 300 Mw commencing commercial operations in this quarter. The construction of Stage-2 of Rosa (600 Mw) is also progressing according to schedule and will be commissioned in FY12.

The company has an operating portfolio of a little over 1,000 Mw and is implementing power projects with aggregate capacity of 35,000 Mw.