Reliance Power Ltd. posted an increase in its profit for the quarter-ended December due to a decline in its finance and depreciation cost.
Net profit of the Anil Ambani-led company rose 1.7 percent from the year-ago period to Rs 280.34 crore. Total income, however, fell 13.2 percent to Rs 2,590.32 crore in the quarter under review, , said the company in an exchange filing today. Revenue from operations fell to Rs 2,494.6 crore, from Rs 2,777.8 crore on a yearly basis.
The finance cost of the company came down to Rs 748.51 crore in third quarter, from Rs 766.22 crore in the same period of last fiscal. Depreciation and amortisation expenses also dipped to Rs 188.22 crore, from Rs 268.09 crore a year ago.
R-Power said in a statement that its coal output was 4.6 million tonnes during the third quarter, and it operated at high plant load factor (PLF) or capacity utilisation.
Its Sasan Ultra Mega Power Project in Madhya Pradesh generated 8,274 million units, operating at a PLF of 95 percent.
Similarly, the 100 MW Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, generated 27 million units vis-a-vis 21 million units, operating at availability of 98 percent.
A part of the Reliance Group, R-Power has a portfolio of power projects based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.
The R-Power stock closed 1.18 percent up to Rs 47.30 on the Bombay Stock Exchange.