Reliance Energy net up

BS 200 SCORECARD

Reliance Energy (REL) today announced a 24 per cent growth in net profit at Rs 159.57 crore in the second quarter of the current financial year, compared with Rs 128.13 crore in the corresponding period of the last year.

Net sales, during the period, went up to Rs 1042.89 crore, up 31.7 per cent from Rs 791.73 crore in the same period last year. Total income during this period was Rs 1161.36 crore, up 32 per cent from Rs 878.55 crore for the same period last year.

However, the scrip lost 2.53 per cent today, from yesterday's closing of Rs 523.90 to Rs 510.65, on a falling Bombay markets. During this period, the company purchased 2,177 million units from external sources, which is 23 per cent higher than the off-take in the corresponding period in the last fiscal.

However, the cost of energy purchased increased by only 8 per cent to Rs 571 crore, owing to lower per unit cost. The company's Dahanu Thermal Power Station operated at a plant load factor (PLF) of 94 per cent, against the PLF of 104 per cent, achieved during the corresponding previous period.

The decline in PLF was a result of temporary shutdown of one of the units during the period under review. At the Samalkot Power Station in Andhra Pradesh, the Samalkot Power Plant operated at a PLF of 51 per cent, against the PLF of 70 per cent achieved during the corresponding previous period.

The lower PLF was mainly on account of lower availability of gas. A company release said the equity capital of the company has increased to Rs 202 crore in the first half of 2005-06, given the conversion of equity warrants allotted to the Reliance group, preferential allotment of equity shares, and part conversion of outstanding foreign currency convertible bonds.