Reliance Power Q1 net up 12.5% at Rs 340 cr

Reliance Power on Monday posted 12.5% jump in consolidated net profit at Rs 340.49 crore in the first quarter ended June on higher electricity generation.

The group had posted a net profit after taxes, minority interest and share of profit of associates of Rs 302.64 crore for the quarter ended June 30, 2015, Reliance Power Ltd said in BSE filing on Monday.

The total income of the company decreased to Rs 2,748.37 crore for the quarter under review, from Rs 2,765.39 crore in the same period last fiscal.

A company official said that the rise in profit was recorded in the first quarter due to higher power generation and better utilisation of plants.

The official said that the group has engaged in only one segment viz 'generation of power' and as such there is no separate reportable category as per the Ind As-108 'Operating Segments'.

The company said that the Sasan Ultra Mega Power Project in Madhya Pradesh generated 8,003 million units, operating at availability of 92.6%.

The Rosa Power Plant in Uttar Pradesh generated 2,072 million units, operating at availability of 103%. The Butibori Power Plant in Maharashtra generated 1,116 million units, operating at availability of 103%. The 40 Mw Dhursar Solar PV plant in Rajasthan generated 18.81 million units, operating at availability of 100%. The 45 Mw Wind capacity in Vashpet, Maharashtra, generated 24.68 million units, operating at availability of 91%. The 100 Mw Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, generated 21.6 million units, operating at availability of 87%.

The company has the portfolio of power projects in the private sector based on coal, gas, hydro and renewable energy with an operating portfolio of 5,945 Mw.