Reliance Power Q4 net profit up by 24 per cent

Reliance Power on Thursday posted nearly 24 per cent jump in consolidated net profit at Rs. 231 crore for the fourth quarter ended March 31, 2012.

In the year-ago period, the entity had consolidated net profit of Rs.186.62 crore. RPower's total income in Q4, 2012 climbed to Rs. 653 crore from Rs. 598 crore in the same period a year ago.

Reliance Power CEO J P Chalasani said the company is well on track to become a 5,000 MW operating company by end of 2012. "We have successfully completed commissioning of the 1,200 MW Rosa plant in Uttar Pradesh four months ahead of PPA schedule again showcasing our strong project execution abilities," he said in a statement.

In 2011-12, the 600 MW Rosa Phase I plant operated at an availability of over 86% for the year and generated net profit of Rs. 335 crore. "We have successfully commissioned India's largest Solar photovoltaic project, a 40 MW project in Rajasthan, in just 129 days," he added.

The company's consolidated net profit in the last fiscal jumped 14 per cent to Rs. 867 crore. In the comparable period, the same stood at Rs. 760 crore. Reliance Power's total income went up to Rs. 2,767 crore in 2011-12 from Rs. 1,892 crore in the year-ago period.