Reliance Power Q2 net profit at Rs 240 cr

Revenue from operating assets grew 121% to Rs 1,079 crore

Reliance Power has reported a 2.1% jump in its net profit of Rs 240 crore for the second quarter ended September 30, 2012.

The consolidated net sales for the Anil Ambani controlled company went up by 121%, to Rs 1,079.2 crore in the second quarter as against the same period last year. Earnings before interest, tax, depreciation and ammortisation (EBITDA), too, zoomed by 227% to Rs 393 crore in the given quarter.

The cost of production for the second quarter stood at Rs 758 crore as against Rs 397 crore for the same period last year. Other income fell by over a half, to Rs 102.2 crore versus Rs 263.1 crore.

The company said that its 1,200 MW Rosa power plant in UP generated 1,655 million units of power in the quarter as against 1,004 million units in the previous year. "The first 300 MW unit of the Butibori project has been synchronised and is ready for full load operations," it said, adding, "The project is expected to be fully commissioned by the end of this year."

The company further said, "Coal production has commenced from the Sasan coal mines."

JP Chalasani, CEO, Reliance Power said, "The company also made rapid strides in the development of the 3,960 MW Sasan Ultra Mega Power Project (UMPP) with the successful light-up of the boiler of the first 660 MW, supercritical unit. Coal production from the associated coal mines has also started and project is all set to be commissioned in the coming weeks."

The share price of Reliance Power closed flat at Rs 97.30 per share on the Bombay Stock Exchange on Monday.