Reliance Power (RPower) has reported a 30 per cent growth in net profit at Rs.266 crore for the third quarter ended December 2012, against Rs.204 crore in the same period in the previous year.
Total income grew over two-fold to Rs.1,586 crore from Rs.674 crore.
“The third quarter has proved to be an excellent one for the company as we turned in outstanding operational and financial numbers. The net profit for the quarter grew 30 per cent aided by record generation from our 1,200 MW Rosa power plant. On the construction side, pre-commissioning activities have started at our 3,960 MW Sasan Ultra Mega Power Project and the project is all set to be commissioned in this quarter, well ahead of the bid schedule,” said J. P. Chalasani, Chief Executive Officer.
He said the Rosa power plant in Uttar Pradesh generated 2,407 million units during the period as against 987 MUs in the year-ago period. Its 40 MW Dhursar solar photovoltaic plant in Rajasthan generated a record 15.2 MUs in this quarter which resulted in a net profit of Rs.12 crore, he said.
Construction work is on at the 100 MW concentrated solar power (CSP) project in Dhursar, Rajasthan, and it would be commissioned in the first quarter of the coming financial year.
The 45 MW wind project in Maharashtra is in its final stages of implementation and is expected to be commissioned by the end of March 2013, the company said.
Shares of Reliance Power surged in the stock exchanges and closed with a growth of 5.42 per cent at Rs.94.40 on the BSE.
