Rel Power posts Rs 196-cr net profit in Q1

Anil Ambani-led Reliance Power reported a consolidated net profit of Rs 196.1 crore for the quarter ended June 2011, marginally higher than the Rs 195 crore reported for the same period last fiscal.

Anil Ambani-led Reliance Power reported a consolidated net profit of Rs 196.1 crore for the quarter ended June 2011, marginally higher than the Rs 195 crore reported for the same period last fiscal.

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The company's consolidated net revenue between April and June 2011 was Rs 689.2 crore, up 72% from Rs 401.2 crore for the corresponding quarter in 2010.

Reliance Power's revenue from its operating assets rose by about 300% quarter-on-quarter to Rs 541.8 crore from Rs 139.3 crore in the corresponding period last year. Profits suffered due to increased fuel cost, said JP Chalasani, CEO, Reliance Power.