The Anil Ambani-led Reliance Power's net profit rose marginally to Rs 235.47 crore for the July-September quarter as against Rs 234 crore it posted in the year-ago period. Sales grew 47 per cent to Rs 750.6 crore against Rs 512 crore.
The company in an earnings statement said its Rosa plant in Uttar Pradesh contributed significantly to overall income. The plant operated at a load factor of 77 per cent by generating 1,030 million units (MUs)of power compared to 530 MUs in the corresponding quarter last year.
Net profit for the plant stood at Rs 75 crore from Rs 22 crore. The Reliance Power stock on the National Stock Exchange closed at Rs 102.60.
The company on Tuesday indicated it would be in a position to commission four projects with total generation capacity of 5,000 Mw by December 2012.
These projects include Rosa II, Butibori in Maharashtra, Samalkot in Andhra Pradesh and Sasan in Madhya Pradesh.
J P Chalasani, chief executive officer, said the Sasan coal mine is expected to begin production next September, ahead of the first unit of the Sasan ultra mega power project in December 2012. The mine would ramp up coal production to peak 20 million tonnes by 2014-15.
Chalsani said “Our Rosa plant continues to be stable, reconfirming our strong operational capabilities. Also, our under-construction projects are progressing satisfactorily and we are well on track to become a 5,000 Mw company by 2012.”
He said the company has tied up loans of Rs 8,000 with EXIM Bank to finance its new projects in Sasan, Samalkot and its solar PV projects, which will be commissioned by March 2012.
