Anil Ambani Group company Reliance Power has reported a 42 per cent increase in consolidated net profit at Rs 204 crore for the third quarter ended December 31, 2011. The company had reported a consolidated net profit of Rs 144 crore in the year-ago period.
“Our 600-MW Rosa plant continues to run at high operational efficiency and financial profitability. The third 300-MW unit at Rosa has been successfully commissioned three months ahead of PPA schedule,” Reliance Power Chief Executive Officer, Mr J.P. Chalasani, said.
The company in a statement said that the operating revenues from the 600-MW Rosa Phase I has almost doubled to Rs 441 crore from Rs 241 crore in the previous year and the net profit has also increased to Rs 75 crore from Rs 40 crore.
Consolidated operating revenues for the December quarter stood at Rs 457 crore, a 82 per cent jump from the corresponding period last year when it stood at Rs 251 crore.
Reliance Power said the entire 1,200-MW Rosa project is set to be operational by March 2012, while the construction activities at the 3,960-MW Sasan Ultra Mega Power Project (UMPP) in Madhya Pradesh are progressing as per schedule and the first unit is expected to be commissioned ahead of schedule by December 2012.
“Gas turbines for the 2,400-MW Samalkot Project are ready for synchronisation and power generation and we are well on track to become a 5,000-MW operating company by the end of 2012,” Mr Chalasani added.
Further, the pre-commissioning activities have commenced for the first 300-MW unit of the 600-MW Butibori project in Maharashtra and the unit is expected to be commissioned by March 2012. The project is expected to be fully commissioned by the middle of the year.
Shares of the company jumped over 1.61 per cent in the morning trade to touch a high of Rs 107 on the BSE. It was later trading at Rs 105.80, up 0.47 per cent.