RPower posts Rs 555 cr loss in March quarter, total expense up 53%

Reliance Power on Friday reported a consolidated loss of Rs 555.18 crore for the March quarter, mainly due to higher expenses.

The company had clocked a consolidated net profit of Rs 72.56 crore in the quarter ended March 31, 2021, as per a BSE filing.

Total income in the quarter rose to Rs 1,878.40 crore from Rs 1,691.19 crore in same period a year ago.

However, total expenses also rose to Rs 2,525.02 crore from Rs 1,647.69 crore in the year-ago quarter.

For the full fiscal 2021-22, the company posted a consolidated net loss of Rs 605.91 crore. It had logged a consolidated net profit of Rs 228.63 crore in 2020-21.

Total income in the fiscal came down to Rs 7,686.73 crore from Rs 8,388.60 crore in 2020-21.

In a statement, the company said it has reduced its debt by Rs 2,537 crore in the fiscal. The debt-to-equity ratio has improved further from 2.08:1 in FY21 to 1.84:1 in FY22.

Reliance Power Limited, part of the Reliance Group, is a leading private sector power generation and coal resources company. The company has one of the largest portfolios of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.