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Reliance power Q2 net up marginally

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Published: Tuesday, November 8, 2011, 16:07 [IST]

Reliance power Q2 net up marginally

Reliance Power on Tuesday reported a marginal increase in its net profits for the quarter ended September 30. It's net profits rose from Rs 234.80 crore a year ago to Rs 235.48 crore this year.

Company's net income rose to Rs 750.69 crore against Rs 512.41 crore corresponding quarter last year.

It's operating revenues fell from Rs 168.69 crore a year ago to Rs 487.55 crore.

Announcing the results, J.P. Chalasani, the Chief Executive Officer of Reliance Power, said: “Our 600
MW operating plant in Rosa continues to be stable and is operating at a high plant load factor. It has
nearly doubled generation on a year-on-year basis, reconfirming our strong operational capabilities.
The projects under construction are progressing satisfactorily and we are well on track to becoming a
5,000 MW operating company by 2012.”

“The company’s project financing capability has enabled it to expand its sources of funding and
secure competitive financing from US-EXIM, Chinese and global banks and our low cost of
generation and 25-year long-term power purchase agreements enable stable cash flows and reduce
credit risk,” Chalasani added.

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