Mumbai, 24 May 2012 — Reliance Power Limited, a Reliance Group company, today announced its financial results for the quarter and year ended March 31, 2012. The company’s Board of Directors approved the financial results at its meeting here today. Announcing the results, JP Chalasani, CEO Reliance Power, said; “We have successfully completed commissioning of the 1,200 MW Rosa plant in Uttar Pradesh four months ahead of PPA schedule again showcasing our strong project execution abilities. The 600 MW Rosa Phase I plant operated at an availability of over 86% for the year and generated net profit of Rs 335 crore. We have successfully commissioned India’s largest Solar photovoltaic project, a 40 MW project in Rajasthan in just 129 days and are well on track to become a 5000 MW operating company by end of 2012.” Read more
Reliance Power, the largest private sector power company of India, reported consolidated net profit up 7.5% at Rs 144 crore for Q3, FY11, compared to Rs 134 crore in Q3, FY10. The consolidated other income was Rs 103 crore vs Rs 179 crore YoY.
“Rosa I has stablised and operating at 105% PLF. The company plans to add three new capacities in the next fiscal year. We achieved financial closure on Sasan project last year. And the company is going for refinancing of projects with cheaper foreign debt.” said JP Chalasani, CEO Reliance Power. Read more