Anil Ambani promoted Reliance Power has posted a net profit of Rs244.5 crore for the year ended March 2009, compared to Rs85.37 crore in the previous year.
Reliance Power, which is yet to start any of its planned power projects, said it received a total income of Rs 360.38 crore during the year. The company currently has cash and liquid balances of Rs10,334 crore, mainly from the proceeds of its initial public offer in February, 2008.
The figures for the previous year are not comparable, said Reliance Power.The company had a total expenditure of Rs103.35 crore during the year, more than double that of Rs40.74 crore during the previous year.
The company said it has utilised Rs2948.04 crore from the proceeds of IPO worth Rs11,563.20 crore. Rest of the funds are parked in liquid and fixed maturity funds.
Reliance Power had announced financial closure for its Rs 19,400 crore Sasan Ultra Mega Power Project (UMPP), this week. The company is also implenmenting two more UMPPs, at Tilaya in Jharkhand and at Krishnapatanam.
