Reliance Power Q1 net dips 32% owing to higher expenses

The company reported a profit of Rs 230.85 cr, a 32% drop from Rs 340.49 cr

Anil Ambani-promoted Reliance Power reported a 32% year-on-year dip in its net profit for the June 2017 ended quarter owing to higher expenses.

For the April-June 2017 period, the company reported a profit of Rs 230.85 crore, 32% lower than Rs 340.49 crore. In the same period, total income remained flat at Rs 2,753.32 crore, against Rs 2748.37 crore. Total expenses, however, rose 4% year-on-year to Rs 2,425.40 crore. Total tax expenses were also higher at Rs 96.07 crore, against Rs 78.52 crore a year ago.

On the operational side, the company reported plant availability of 100% at its Rosa power plant. Availability at Sasan power project was at 89%, Butibori was at 76% and Maharashtra's wind project was at 95%.

Earnings before interest, taxation, depreciation and ammortisation or Ebitda was at Rs 1,164 crore for the June quarter.