Q4 Result of Reliance Power showed increase in profit by 11%

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Q4 Result of Relance Power showed increase in profit by 11%
Reliance Power, a part of the Anil Dirubhai Ambani Group, posted a rise of 11 per cent in its net profit at Rs 760.44 crore for FY2011. Last year, FY10, the company had reported a net profit of Rs 683.89 crore, according to its press briefing.

This announcement led the shares to rise by 6 per cent on the Bombay Stock Exchange.

Total income of the company jumped to a whopping 124 per cent at Rs 1,892.47 crore as compared to Rs 843.38 crore during the corresponding period in the previous fiscal.

Reliance Power currently has an operational capacity of 600 MW at its Rosa thermal power plant in Uttar Pradesh. It plans to hike this capacity to 5,000 MW by 2012, it said.

The company is also executing three ultra mega power projects at Sasan (Madhya Pradesh), Krishnapatnam (Andhra Pradesh) and Tilaiya (Jharkhand). These projects are of 4,000-MW capacity each.

The first 660-MW unit of the Sasan (4x660) project is likely to be commissioned in 2012, the statement added.

Approval for the mining plan for producing 40 million tonnes per annum from Tilaiya coal mines has been received from the government and development activities are under progress, it further added.

Reliance Power is also constructing a 2,400 MW gas-based power project at Samalkot in Andhra Pradesh, which is likely to be commissioned by this year-end.

Shares of the company closed at Rs 116, up 4.98 per cent on the BSE. It hit a high of Rs 119 and a low of Rs 110.55 during the day.

Read more about: reliance power, bse, nse, adag
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