Reliance Power posts Rs 196 cr net profit

On a standalone basis,Reliance Power’s net profit fell to Rs 64.6 crore from Rs 148.5 crore,while its total income declined to Rs 119.5 crore from Rs 212 crore.

Its operating revenues rose by nearly three-fold to Rs 542 crore in the reporting quarter.

The company said that project implementation was on track for commissioning of generation units with a cumulative capacity of 5,000 MW at its Rosa,Butibori,Samalkot and Sasan plants by December,2012.

Announcing the results,Reliance Power CEO J P Chalasani said the company’s Rosa plant operated at a plant load factor (PLF) of 91 per cent during the quarter and availability was at 94 per cent.

“Rosa is now among the country’s top thermal power plants in operating terms,firmly establishing the company’s execution and operational capabilities,” he added.

Certification of RPower’s 3,960-MW Krishnapatnam Ultra Mega Power Project (UMPP) under the United Nations Framework for Carbon Credits (UNFCCC),thereby entitling it to carbon credits,makes the company the power utility with the largest number of CERs in the country.

“Krishnapatnam and Sasan are the largest power plants in the world to achieve this milestone,translating to a value creation in excess of Rs 3,000 crore,” Chalasani said.

Reliance Power,a part of the Anil Ambani Group,is among India’s leading private sector power generation companies,with a portfolio of power projects based on coal,gas,hydro and renewable energy.

The company has also purchased three coal mines in Indonesia and plans to develop coal bed methane-based generation capacities.