Business

Reliance Power posts Rs. 61 cr. profit

NEW DELHI: Reliance Power on Friday reported a net profit of Rs. 61 crore for the quarter ended June 30, 2008, while another Anil Dhirubhai Ambani Group (ADAG) company Reliance Natural Resources Limited (RNRL) reported a net profit of Rs. 16 crore for the same quarter.

Total income of Reliance Power went up to Rs. 81 crore, while its earnings per share (EPS) stood at 26 paise. “Reliance Power intends to develop, construct and operate power generation projects both in India and abroad. The company is at present developing an installed capacity of 28,200 MW,” a company statement said.

While the company’s Rosa Phase-I (600 MW) has achieved an overall progress of 37 per cent as on June 2008, and expected to be on stream ahead of scheduled date of March 2010, work has begun on the Sasan mega project (3,960 MW). The first unit of Sasan project is expected to be commissioned in December 2011 and the full project by March 2013, it added.

On the other hand, RNRL said its total income for the first quarter of the current fiscal stood at Rs. 93 crore, an increase of 42 per cent.

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