Reliance Power posts Rs 106-cr Q3 profit | business | Hindustan Times
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Reliance Power posts Rs 106-cr Q3 profit

business Updated: Jan 22, 2009 17:19 IST

Anil Ambani group firm Reliance Power has posted a net profit of Rs 106 crore for the third quarter ended on December 31, 2008.

The quarterly results are not comparable since the company was listed in February last year only.

In a filing to the Bombay Stock Exchange, the firm on Thursday said it had a total income of Rs 131 crore for the third quarter.

It said the construction work for the 600MW Rosa Phase I project in Shahjahanpur in Uttar Pradesh is expected to be commissioned ahead of schedule.

The construction work is "progressing at a fast pace and the project is expected to be commissioned six months ahead of its scheduled date of June 2010," the filing noted.

Further, the company said that the commissioning schedule of Sasan project has been advanced by three years from the 2016 to 2013.

"Sasan UMPP is in advanced stages of achieving financial closure and has already obtained sanctions for most of the debt required for the project," the filing added.

Shares of Reliance Power closed at Rs 98.70, down 1.64 per cent on the Bombay Stock Exchange.