Reliance Power Q4 Turns to Net Profit of Rs72.56cr After Massive Rs-4206cr Loss in Mar-20 Quarter
Reliance Power Ltd reported -7.98% yoy fall in consolidated sales revenues for the Mar-21 quarter at Rs1,654.57cr.
Reliance Power Ltd reported -7.98% yoy fall in consolidated sales revenues for the Mar-21 quarter at Rs1,654.57cr. In the midst of the challenges of COVID, Reliance Power managed to achieve 96.25% plant load factor (PLF) at its 3,960 MW Sasan Power Project.
This is the best performance in India and it also recorded the highest ever power generation of 33,388 million units. Its 185 MW of renewable capacity had an availability rate of 96%.
The net profit in the quarter turned around to a positive profit of Rs72.56cr as compared to a massive loss of Rs-4,206cr in the Mar-20 quarter. However, this is more of an exceptional one-time write off and hence not sustainable. The company reduced its debt/equity ratio from 2.41:1 in FY20 to 2.08:1 in FY21.
The huge exceptional loss of Rs-4,206cr was on account of provisions and write-offs for impairment of assets worth Rs4,004cr made in the Mar-20 quarter. The net margins were higher on sequential basis at 4.39% against 2.76%.
Financial highlights for Mar-21 compared yoy and sequentially.
Source: indiainfoline
