Reliance Power slips after weak Q1 results

Reliance Power fell 2.09% to Rs 44.45 at 13:36 IST on BSE after consolidated net profit declined 32.20% to Rs 230.85 crore on 1.62% decline in net sales to Rs 2635.24 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was down 11.10 points, or 0.03% to 32,503.84.

On the BSE, 4.93 lakh shares were traded in the counter so far, compared with average daily volumes of 6.40 lakh shares in the past one quarter. The stock had hit a high of Rs 45.40 and a low of Rs 44.40 so far during the day. The stock hit a 52-week high of Rs 55 on 1 August 2016. The stock hit a 52-week low of Rs 38.20 on 24 November 2016.

The stock had outperformed the market over the past one month till 31 July 2017, rising 6.70% compared with 5.15% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 6% as against Sensex's 8.67% rise. The scrip had also underperformed the market in past one year, falling 14.34% as against Sensex's 16.11% rise.

The large-cap company has equity capital of Rs 2805.13 crore. Face value per share is Rs 10.

Reliance Power said that the Sasan ultra mega power projects (UMPP) in Madhya Pradesh generated 7,531 million units, operating at availability of 89%. Captive coal mines of Sasan UMPP produced 4.4 million tonnes of coal. The total volume including overburden removal handled by coal mine of Sasan was ~20 million cubic metres (MCuM) in Q1 June 2017.

The Rosa Power Plant in UP generated 2,245 million units, operating at availability of 100%. The Butibori Power Plant in Maharashtra, generated 842 million units, operating at availability of 76%. The 40 MW Dhursar Solar PV plant in Rajasthan generated 18.40 million units, operating at availability of ~100%. The 45 MW Wind capacity in Vashpet, Maharashtra generated 22.62 million units, operating at availability of 95%. 100 MW Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, generated 31 million units operating at availability of 99%.

Reliance Power is India's leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.

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