Reliance Power Q3 net up 42%, eyes 5,000MW operations

Reliance Power reported 42 percent net profit growth for the quarter ended December 31, 2011 at Rs 204 crore from  Rs 144 crore a year ago.

"Our 600 mw Rosa plant continues to run at high operational efficiency and financial profitability. The third 300-mw unit at Rosa has been successfully commissioned three months ahead of PPA schedule," Reliance Power chief executive officer J P Chalasani said.

The 2,400-mw Samalkot Project are ready for power generation and the company is on track to become a 5,000-mw operating company by end of 2012, Chalasani said.

The company said that the operating revenues from the 600-mw Rosa Phase I nearly doubled to Rs 441 crore from Rs 241 crore in the previous year and the net profit for the plant also increased to Rs 75 crore from Rs 40 crore in the previous year.

The statement said the 1,200-mw Rosa project was likely to be fully operational by March 2012, while construction activities at the 3,960-mw Sasan ultra mega power project in Madhya Pradesh were progressing as per schedule and the first unit was expected to be commissioned by December 2012.

Pre-commissioning activities have commenced for the first 300-mw unit of the 600-mw Butibori project in Maharashtra and the unit is expected to be commissioned by March 2012. The project is expected to be fully commissioned by the middle of the year, Reliance Power said.

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