Reliance Power posted a net profit of Rs 231 crore for the quarter-ended March 2012 on the back of capacity addition. Total income was Rs 653 crore.
The third unit of 300 MW at the Rosa Plant (Uttar Pradesh) became operational in the third quarter of FY11. The fourth unit also of 300 MW came on line in April FY12, taking the total capacity to 1,200 MW.
Mr J.P. Chalasani, Chief Executive Officer, said, “We have completed commissioning of the 1,200 MW Rosa plant in Uttar Pradesh four months ahead of PPA schedule.
“The 600-MW Rosa Phase I plant operated at an availability of over 86 per cent for the year and generated net profit of Rs 335 crore. We have also commissioned a 40-MW solar project in Rajasthan in 129 days.”
For the financial year 2012, total income was Rs 2,767 crore and net profit Rs 867 crore.
On the 2,400-MW Samalkot gas-based project, Mr Chalasani said the debate was on whether gas pooling with imported LNG could tide over the shortage to ensure that the gas-based projects operated at least at 60 per cent PLF (plant load factor).
On the 4,000-MW Krishnapatnam project, he said R Power had obtained an interim stay against the power procurers from taking any coercive steps against the Coastal Andhra Pradesh Power Ltd (CAPL).
CAPL is a wholly owned subsidiary of R Power implementing the imported coal-based project in Andhra Pradesh. The power procurers have sought liquidated damages against the company for delay in project implementation.
On Thursday, R Power Scrip was up 3.66 per cent at Rs 93.35 on BSE.