RPower Q4 net up 15%

Reliance Power Ltd (RPower) on Monday posted a 15 per cent rise in its fourth quarter consolidated net profit at Rs 266 crore, compared with Rs 231 crore in the corresponding quarter last year.

RPower’s total income jumped 1.3 times to Rs 1,247 crore from Rs 532 crore, as two of its units were commissioned last year. The company’s operational capacity doubled to 2,500 Megawatts (Mw).

Its 1,200-Mw Rosa power plant in MP operated at a capacity of 92 per cent, producing eight billion units during the quarter. “We commissioned our first 660 Mw, super-critical unit of the Sasan ultra mega power project in UP in March 2013. This year also saw the first full year operation of our Rosa project and the 40-Mw solar  project in Rajasthan, which resulted in record generation and profitability,” said J P Chalasani, chief executive officer.

The company has a 2,400-Mw gas-based power plant in Samalkot in Andhra Pradesh, which has been constructed and is waiting for fuel supply. RPower hopes there would be some sort of progress in the gas-pooling issue, hence ensuring supply to the power plant.

“There would be some visibility in some aspects in the next 30-60 days,” said Chalasani. The advisory on gas-pooling is debating various issues, including putting power and fertiliser gas procurers in the same priority list. More gas is also expected from the fields of Gujarat State Petroleum Corp and Oil and Natural Gas Corp.

For the year ended 2012-13, the company’s net profit went up 17 per cent to Rs 1,011 crore. Its total income rose 91 per cent to Rs 5,284 crore.