Reliance Power posts marginal rise in Net in Q2

MUMBAI: Anil Ambani-led Reliance Power today posted a marginal rise in its net profit for the September quarter at Rs 235.48 crore against Rs 234.80 crore amid sharp rise in fuel costs.

The company's total revenues for the quarter rose 46 per cent to Rs 751 crore compared to Rs 512 crore in the year-ago period.

During the quarter, the fuel cost rose to Rs 289.36 crore compared to Rs 99.72 crore in the corresponding period last year.

"Though the profit has marginally risen, our operating revenues have significantly increased during the period as the power generation from the Rosa phase I plant has nearly doubled on year-on-year basis and is operating at high plant load factor (PLF)," company's Chief Executive Officer J P Chalasani told reporters here.

The plant operated at a PLF of 77 per cent generating 1,030 million units (MUs) compared with 530 MUs in corresponding period last year, he said.

"The projects under construction are progressing satisfactorily and we are well on track to becoming a 5,000 MW company by 2012. The operating revenues from the 600 MW Rosa plant have gone up almost three times to Rs 474 crore from Rs 169 crore in the previous year," Chalasani said.

He said the pre-commissioning activities at the 600 MW Rosa Phase-II project have started and the first of the two units is all set to be commissioned next month.