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Reliance Power net up 15%

business Updated: May 13, 2013 22:15 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Anil Ambani-controlled Reliance Power on Monday announced a 15% year-on-year jump in its net profit to Rs 266.06 crore for the quarter ended March from Rs 231.31 crore in the corresponding quarter of the previous financial year.

Total income of the company stood at Rs 1,247.79 crore during the quarter under review compared to Rs 532.59 crore in the same period last fiscal, a company statement said.

Reliance Power recorded an annual net profit of Rs 1,011.46 crore compared to Rs 866.78 crore in 2011-12.

“The year 2012-13 saw the development of our 3,960 MW Sasan ultra mega power project in Madhya Pradesh and we commenced coal production from our 20 million tonnes per annum Moher mines (for the Sasan project),” JP Chalasani, chief exceutive officer, Reliance Power said in the statement.

“Construction work in full swing for the remaining units of the Sasan UMPP and each unit is on track to be commissioned,” the statement said.