Reliance Power Q3 Net up 7.45 pc at Rs 143.61 crore | mumbai | Hindustan Times
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Reliance Power Q3 Net up 7.45 pc at Rs 143.61 crore

Anil Ambani-led Reliance Power today posted a 7.45 per cent increase in its net profit at Rs 143.61 crore in the third quarter ended December 31, 2010, against Rs 133.64 crore in the same period in 2009.

mumbai Updated: Feb 14, 2011 21:06 IST

Anil Ambani-led Reliance Power today posted a 7.45 per cent increase in its net profit at Rs 143.61 crore in the third quarter ended December 31, 2010, against Rs 133.64 crore in the same period in 2009.

Its revenue rose by 98.2 per cent to Rs 355.13 crore as against Rs 179.16 crore in the last fiscal. "The total revenues reflect the income generated from the sale of energy from our 600-MW power plant at Rosa in Uttar Pradesh, which is now operating at full capacity," the company's CEO J P Chalasani told reporters here.

Apart from this, the other incomes generated from the company's associated business activities are also reflecting in the total income, he said. "Once our major power plants are operational by around 2013, income from other businesses will slowly become negligible and the revenue from the core business will be reflected in our total income," Chalasani said.

On the company's various projects, he said the Samalkot gas-based project is on track and likely to be commissioned by the year-end.

"We need allocation of 9.6 MMSCMD of domestic natural gas to fuel our project. We have written to the ministry to arrange gas supplies for the project either from pre-NELP or NELP blocks. We expect the project to be commissioned by November 2011," he said.

However, he mentioned the company also had a back up plan if the demand was not met. "We are positive that we will get the gas supply. But we also have a back-up plan," Chalasani said, without revealing details.