Reliance Power posts Rs 235 cr profit

Reliance Power posted a a marginal rise over the profit inked in the same period last year.

Anil Ambani-led Reliance Power today posted a net profit of Rs 235.48 crore for the quarter ended September 30,2011,a marginal rise over a profit of Rs 234.80 crore in the same period last year.

Total income of the company jumped 46 per cent at Rs 751 crore,compared to Rs 512 crore during the corresponding quarter of the previous financial year,Reliance Power said in a statement.

“The projects under construction are progressing satisfactorily and we are well on track to becoming a 5,000 MW operating company by 2012,” J P Chalasani,CEO Reliance Power said.

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

The 600 MW gas-based Butibori project at Maharashtra is expected to be fully commissioned by the middle of next year.

All the six gas turbines for the 2,400 MW Samalkot project in Andhra Pradesh have reached India and two of them have been installed,the statement added.

The first 660 MW unit of the 3,960 MW Sasan ultra mega power project in Madhya Pradesh is expected to be commissioned by the end of 2012.

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Reliance Power has tied up loans worth Rs 700 crore with the Exim Bank and ADB for its 40 MW solar power plant at Jaisalmer in Rajasthan,to be commissioned by March 2012.

The company also plans to commission another 100 MW solar power plant in Rajasthan and a 200 MW wind power project in Maharashtra in the next 18 months,it added.

Reliance Power is also executing two more ultra mega power projects along with Sasan — Krishnapatnam (Andhra Pradesh) and Tilaiya (Jharkhand).

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