Reliance Power net up by 26% in Q3 | business | Hindustan Times
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Reliance Power net up by 26% in Q3

Reliance Power Ltd, the ADAG company that is yet to get any income from power generation activity has reported a net profit of Rs 133.7 crore for the third quarter ended December 31, 2009 as compared to Rs 105.7 crore for the same period of the previous year, an increase of 26 per cent.

business Updated: Jan 29, 2010 23:08 IST
HT Correspondent

Reliance Power Ltd, the ADAG company that is yet to get any income from power generation activity has reported a net profit of Rs 133.7 crore for the third quarter ended December 31, 2009 as compared to Rs 105.7 crore for the same period of the previous year, an increase of 26 per cent.

The company, which only had investment and interest income, reported a total income of Rs 179.2 crore. As on December 31, 2009, the company had cash and liquid balances of Rs 9.4 crore.

The company is building five power plants including three ultra mega power projects with combined capacity of 13,800 mw at several locations.

Power generation of the first unit of 1,200 mw Rosa power plant in UP commenced on December 28, 2009. Work is commencing fast for commercial operations. Construction activities are on full swing for the 600 mw phase II of the project, which is expected to be commissioned by 2012 with 300 mw capacity. Construction activity is progressing at the 600 mw plant at Butibori in Maharashtra as well as at its 4,000 mw Sasan Ultra Mega Power Project in Madhya Pradesh.