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Reliance Power Q1 net profit declines 32% to Rs 231 cr

Reliance Power Q1 net profit declines 32% to Rs 231 cr

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New Delhi, Jul 31 (PTI) Reliance Power today posted a 32 per cent decline in consolidated net profit at Rs 230.8 crore for the quarter ended June 30, 2017 on increase in finance cost. The company had posted a consolidated net profit of Rs 340.4 crore in the corresponding quarter of the previous fiscal, Reliance Power said in a filing to BSE.
The companys consolidated total income was at Rs 2,752.3 crore from Rs 2,748.3 crore in the year-ago period. Consolidated expenses increased to Rs 2,425.4 crore, compared to Rs 2,329.3 crore in the corresponding quarter of the previous fiscal. A company official attributed the decline in consolidated net profit to increase in finance cost. The companys finance cost during April-June quarter increased to Rs 766 crore, compared to Rs 645.9 crore in the year-ago period. “The Sasan UMPP in Madhya Pradesh generated 7,531 million units, operating at availability of 89 per cent,” the company said in a statement. Captive coal blocks of Sasan ultra mega power projects (UMPP) produced 4.4 million tonnes of fossil fuel. “The total volume including overburden removal handled by coal mine of Sasan was 20 MCuM in Q1FY18,” the statement said.
The companys Rosa Power Plant in Uttar Pradesh generated 2,245 million units of electricity, operating at availability of 100 per cent.
“The Butibori Power Plant in Maharashtra, generated 842 million units, operating at availability of 76 per cent. The 40 MW Dhursar Solar PV plant in Rajasthan generated 18.40 million units, operating at availability of 100 per cent,” it added. “The 45 MW wind capacity in Vashpet, Maharashtra generated 22.62 million units, operating at availability of 95 per cent. 100 MW Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, generated 31 million units operating at availability of 99 per cent,” the statement added. Reliance Power Ltd is a leading power generation firm which has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy. The company has an operating portfolio of 5,945 MW. Shares of the company closed at Rs 45.40 a piece on BSE, up 0.11 per cent from the previous close.

Source:PTI
Anand Gupta Editor - EQ Int'l Media Network

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