Reliance Power net profit up at Rs 240 crore

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Reliance Power net profit up at Rs 240 crore
Anil Ambani led Reliance Power reported rise in its net profit at Rs 240 crore for the quarter ended September 30, 2012 against Rs 235.5 crore in a year ago period.

Reliance Power is a part of Anil Dhirubhai Ambani group. The company's Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 227% YoY to Rs 393 crore in the quarter.

The Reliance Power operating revenue grew by 121% to Rs 1,079 crore against Rs 488 crore in the previous year.

Reliance Power said in a statement. "We continue our robust financial performance in the second quarter of FY 2012-13 as revenue from operating assets grew 121 per cent to Rs 1,079 crore," Reliance Power Chief Executive Officer J P Chalasani said.

According to the press release, coal production has commenced from the Sasan coal mines.

Shares of the company was seen trading at Rs 97.70, higher by 0.41 on BSE at 3.10 pm IST.

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