Reliance Power's Q1 net profit up 41 percent

Reliance Power on Tuesday reported an increase of 41 percent in its consolidated net profit for the first quarter (Q1) of the current fiscal.

The company's net profit for the quarter under review stood at Rs.344 crore from Rs.244 crore for the quarter ended June 30, 2014.

The power generation firm's consolidated total income for the Q1 zoomed by 58 percent to Rs.2,864 crore from Rs.1,811 crore for the corresponding period of 2014-15.

The operating revenues during Q1 rocketed by 58 percent at Rs.2,768 crore from Rs.1,753 crore for the like quarter of last fiscal.

Other income of the company gained by 68.42 percent at Rs.96 crore from Rs.57 crore from the quarter ended June 30, 2015.

The company achieved a total operating capacity of nearly 6,000 MW (mega watt) of power generation during the quarter under review.

The consolidate EBIDTA (earnings before interest, taxes, depreciation and amortization) for Q1 augmented by 79 percent to Rs.1,170 crore.

On a standalone basis, the company's net profit marginally grew to Rs.7.29 crore for the quarter ended June 30, 2015 from Rs.7.24 crore for the like quarter of 2014-15.

However, the total income decreased by 21.41 percent during the Q1 to Rs.79.14 crore from Rs.100.71 crore for the corresponding period of last fiscal.

The company's scrip at the Bombay Stock Exchange (BSE) rose by 2.53 percent at Rs.44.60 from its previous close of Rs.43.50 per equity share.