Reliance Power Q4 net up 15% at Rs 266.06 crore

Reliance Power today posted a 15 per cent jump in its net profit at Rs 266.06 crore for the quarter ended March 31, 2013.

The company had reported a net profit of Rs 231.31 crore in the corresponding quarter of the previous financial year (2012-13), Reliance Power said in a statement.

Total income of the company stood at Rs 1,247.79 crore during the period compared to Rs 532.59 crore in the same period last fiscal (2011-12), the statement said.

Reliance Power recorded an annual net profit of Rs 1,011.46 crore compared to Rs 866.78 crore in 2011-12. "The year 2012-13 saw the development of our 3,960 MW Sasan ultra mega power project in Madhya Pradesh and we commenced coal production from our 20 million tonnes per annum Moher mines (for the Sasan project)," chief executive officer of Reliance Power J.P. Chalasani said in the statement.

"Construction work is in full swing for the remaining units of the Sasan UMPP and each unit is on track to be commissioned. The 45 MW wind project in Maharashtra is in its final stages of implementation and the project is expected to be commissioned shortly," the statement said.

The 100 MW concentrated solar power (CSP) project in Dhursar, Rajasthan, has also made progress, it added.

The company has power projects based on coal, gas, hydro and renewable energy, with an operating portfolio of 2,500 MW.

The company also has captive coal reserves estimated at more than two billion tonnes. It is developing coal mines in Indonesia and coal bed methane blocks in India.

Shares of Reliance Power closed down 3.06 per cent on the BSE, while the Sensex closed down 2.14 per cent.