Reliance Power tumbles after dismal Q4 result

Reliance Power was down 13.78% to Rs 5.32 at 10:18 IST on the BSE, after the company reported a consolidated net loss of Rs 3559.52 crore in Q4 March 2019 as compared to net profit of Rs 188.20 crore in Q4 March 2018.

The result was announced on Saturday, 8 June 2019.

On the BSE, 33.04 lakh shares were traded in the counter so far compared with average daily volumes of 82.66 lakh shares in the past two weeks. The stock had hit a high of Rs 5.56 so far during the day. The stock a 52-week low of Rs 4.71 in intraday trade today, 10 June 2019. It hit a 52-week high of Rs 39.25 on 03 September 2018.

Reliance Power's total income fell 27.30% to Rs 1687.86 crore in Q4 March 2019 over in Q4 March 2018. The company reported Rs 4170.19 crore in Q4 March 2019 as impairment loss, of which Rs 1017.02 crore was reduced through withdrawal from its general reserves.

The board of directors has approved raising resources by issuing debt securities by way of privately placed debentures.

Reliance Power is private sector power generation and coal resources company. The company has 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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