Reliance Power Q4 Net Profit Surges 24%, Hits Estimates

Reliance Power Q4 Net Profit Surges 24%, Hits EstimatesFor the three month period ended March 31, 2012, Reliance Power has registered around 24% increase in consolidated net profit, which remained at Rs 231 crore.

The company recorded consolidated net profit of Rs 186.62 crore during the year-ago period.

Company's total income during the fourth quarter of the fiscal 2011-12 soared to Rs 653 crore as against Rs 598 crore during the same period a year ago.

Company's chief executive J. P. Chalasani stated that the company was well on the right track to turn into a 5,000MW operating firm by 2012 end.

In a declaration, Chalasani stated, "We have successfully completed commissioning of the 1,200MW Rosa plant in Uttar Pradesh four months ahead of PPA schedule again showcasing our strong project execution abilities."

During the last financial year (2011-12), the 600MW Rosa Phase I facility operated at an availability of more than 86% for the year and brought forth net profit of Rs 335 crore.

"We have successfully commissioned India's largest solar photovoltaic project, a 40MW project in Rajasthan, in just 129 days," Chalasani also said.

The company's consolidated net profit during the last financial year climbed 14% up to Rs 867 crore.

The company's total income mounted to Rs 2,767 crore during the last fiscal.

On a standalone basis, the company recorded a net profit of Rs 30.77 crore during Jan-Mar 2012 quarter.

Company's standalone total income remained at Rs 26.37 crore during the latest March quarter from Rs 100.92 crore in the year-ago period.

For the fiscal, Reliance Power's standalone net profit augmented to Rs 310.86 crore.

The total standalone income of the company reached Rs 531.85 crore during the last fiscal as against Rs 470.47 crore in 2010-11 period.