Anil Ambani group firm Reliance Power (RPower) today reported a net profit of Rs 196 crore for the first quarter of 2010-11, a modest increase from Rs 195 crore in the corresponding year-ago period.
The company's total income on consolidated basis rose 72% to Rs 689 crore in the quarter ended June 30, 2011, from Rs 401 crore in the year-ago period.
On a standalone basis, RPower's net profit fell to Rs 65 crore from Rs 148.5 crore, while its total income declined to Rs 119.5 crore from Rs 212 crore.
Its operating revenues rose by nearly three-fold to Rs 542 crore in the reporting quarter.
The company said that project implementation was on track for commissioning of generation units with a cumulative capacity of 5,000 MW at its Rosa, Butibori, Samalkot and Sasan plants by December, 2012.
Announcing the results, RPower CEO JP Chalasani said the company's Rosa plant operated at a plant load factor (PLF) of 91% during the quarter and availability was at 94%.
"Rosa is now among the country's top thermal power plants in operating terms, firmly establishing the company's execution and operational capabilities," he added.
Certification of RPower's 3,960-MW Krishnapatnam Ultra Mega Power Project (UMPP) under the United Nations Framework for Carbon Credits (UNFCCC), thereby entitling it to carbon credits, makes the company the power utility with the largest number of CERs in the country.
"Krishnapatnam and Sasan are the largest power plants in the world to achieve this milestone, translating to a value creation in excess of Rs 3,000 crore," Chalasani said.
RPower, a part of the Anil Ambani Group, is among India's leading private sector power generation companies, with a portfolio of power projects based on coal, gas, hydro and renewable energy.
The company has also purchased three coal mines in Indonesia and plans to develop coal bed methane-based generation capacities.