Higher generation boosted Reliance Power’s net profit to Rs 266 crore for the December quarter.
R Powers’ 1,200 MW Rosa power plant in Uttar Pradesh generated 2,407 MUs (million units) in the quarter, against 987 MUs the same quarter last year. In Q3 FY12, only 600 MW was operational at Rosa.
In the third quarter of FY13, plant availability was 103 per cent and plant load factor (a function of dispatch) was 91 per cent.
J.P. Chalasani, Chief Executive Officer, said: “The net profit for the quarter grew 30 per cent aided by record generation from our Rosa plant. On the construction side, pre-commissioning activities have started at our 3,960 MW Sasan Ultra Mega Power Project (UMPP) and the project is all set to be commissioned in this quarter, well ahead of the bid schedule.”
The 40 MW Dhursar solar PV plant in Rajasthan generated 15.2 million units resulting in a net profit of Rs 12 crore.
The second unit of 300 MW at the 600 MW Butibori plant has been sychronised and is ready. The company was waiting to sign a long-term power purchase agreement to get coal linkage.
On the 2,400 MW gas-based Samalkot plant, he said, gas supply remained a constraint.
Referring to the 4,000 MW Krishnapatnam ultra mega power project, he said the issue of whether arbitration was the way forward needs to be resolved by court. R Power has suspended work on the project.
On Sasan UMPP, he said coal production had commenced from its captive mines. Another associated captive mine of the project, the Chhatrasal mine, with a capacity of five million tonnes per annum, had received stage I forest clearance during the quarter.
R Power will commission a 100 MW concentrated solar power project, also in Dhursar, in Q1 FY14. The 45 MW wind power project at Vashpet in Maharashtra was expected to be commissioned in March, he said.
On Friday, R Power scrip rose 5.42 per cent to Rs 94.40 on BSE.