Reliance Power Q4 profit climbs 24% to Rs 231 cr

CEO J P Chalasani says the company is well on track to become a 5,000 MW operating company by end of 2012

Reliance Power today posted nearly 24% jump in consolidated net profit at Rs 231 crore for the fourth quarter ended March 31, 2012.

In the year-ago period, the entity had consolidated net profit of Rs 186.62 crore.

RPower's total income in Q4, 2012 climbed to Rs 653 crore from Rs 598 crore in the same period a year ago.

Reliance Power CEO J P Chalasani said the company is well on track to become a 5,000 MW operating company by end of 2012.

"We have successfully completed commissioning of the 1,200 MW Rosa plant in Uttar Pradesh four months ahead of PPA schedule again showcasing our strong project execution abilities," he said in a statement.

In 2011-12, the 600 MW Rosa Phase I plant operated at an availability of over 86% for the year and generated net profit of Rs 335 crore.

"We have successfully commissioned India's largest solar photovoltaic project, a 40 MW project in Rajasthan, in just 129 days," he added.

The company's consolidated net profit in the last fiscal jumped 14% to Rs 867 crore. In the comparable period, the same stood at Rs 760 crore.

Reliance Power's total income went up to Rs 2,767 crore in 2011-12 from Rs 1,892 crore in the year-ago period.

The company has completed the boiler hydro test of the first 660 MW unit of upcoming 3,960 MW Sasan Ultra Mega Power Project (UMPP) in Madhya Pradesh. The first unit is expected to be expected to be commissioned by December 2012, it said.

According to the firm, the 600 MW Butbori project is set to be commissioned in the second quarter of current fiscal.

On a standalone basis, Reliance Power reported a net profit of Rs 30.77 crore in the three months ended March 2012. In 2011 March-quarter, the net profit was at Rs 62.72 crore, as per filing to the BSE.

Standalone total income stood at Rs 26.37 crore in the latest March quarter compared to Rs 100.92 crore in the year-ago period.

For the 2011-12 period, Reliance Power's standalone net profit increased to Rs 310.86 crore. In 2010-11, it was at Rs 274.55 crore.

Total standalone income rose to Rs 531.85 crore in the last financial year compared from Rs 470.47 crore in 2010-11 period.

Shares of Reliance Power were trading at Rs 92.55, up 2.78%, in late afternoon session on the BSE.