Reliance Power net up 163 per cent

Anil Ambani-led Reliance Power Thursday reported a net profit of Rs.2.49 billion for the year ended March 31, a rise of almost 163 per cent over the previous profit of Rs.947 million.

Other income for the company increased from Rs.1,33 billion in 2007-08 to Rs.3.35 million, it said in a regulatory statement.

Consolidated net profit for Reliance Power and its subsidiaries was at Rs.2.45 billion for the year ended March 31 as compared to Rs.853.793 million it logged in the year-ago period.

Its consolidated other income grew to Rs.3.6 billion for the year ended March 31, 2009, from Rs.1.33 billion in the same period the previous year.

The company had Tuesday said it has completed the financial closure for its 3,960 MW power project at Sasan in Madhya Pradesh.