Reliance Power net up 11% on Rosa plant opening

Reliance Power has posted a consolidated net profit of Rs 760 crore for the year ended March 31, 2011 as against Rs 683.89 crore for 2009-10.

Net sales of the company grew to Rs 1054.76 crore as against a mere Rs 20.72 crore in 2009-10 on the back of the commencement of operations at Rosa power plant. The other income, mainstay income generator for the company till last year, was at Rs 837.71 crore as against Rs 822.65 crore in 2009-10. The company said the first phase of the Rosa power project, at 600 Mw, is clocking a plant load factor (PLF) of over 90 per cent consistently.

Reliance Power CEO JP Chalsani said, “This is the first time the company has reported operating profits. Till now profits were from the interest that we were getting from our investments.” Detailing the operations of Rosa power plant in Uttar Pradesh, he said that the PLF for the plant for April-December 2010 period was 50.8 per cent, which climbed to 87 per cent in Jan-March 2011 quarter and at 92.7 per cent in April-May 2011 period. He said, “Rosa is the reason behind the operating profit jump.”

The revenues from Rosa project jumped to Rs 474 crore in the fourth quarter ended March 31, 2011. The profit after tax from the project was at Rs 131.5 crore and the end of financial year 2011. The cost of production of power for the company, for 2010-11, was at Rs 3 per unit on linkage coal. On blended coal, the company spent Rs 4 to produce each unit of power.

Outlining the target of reaching 5000 Mw by 2012, Chalsani said Rosa phase II of 600 Mw would be commissioned by December 2011, 600 Mw at Butibori by June 2012, 2400 Mw Samalkot power project by February 2012. The 660 Mw first unit of Sasan ultra mega power plant is expected to be completed by December 2012.