Reliance Power total income rises 124 percent in 2011-12
May 27th, 2011 - 5:00 pm ICT by IANSNew Delhi, May 27 (IANS) Reliance Power part of the Anil Dhirubhai Ambani Group (ADAG) Friday said its total income had risen by a whopping 124 percent at Rs.1,892.47 crore for the fiscal ended March 31 while its net profit rose by 11 percent at Rs.760.44 crore.
The robust results led to shares of the company soaring 7.6 percent to an intra-day high of Rs.119 at the Bombay Stock Exchange.
The first phase of the Rosa Power Plant (600 megawatt) in Uttar Pradesh became fully operational during the year and registered an operating profit of Rs.416 crore, Reliance Power said in a regulatory statement.
The second phase of the plant is on track for being commissioned ahead of schedule by March 2012.
Another 600 megawatt at its Butibori Power Plant in Maharashtra and the first unit at the 3,960 MW Sasan ultra mega power project would also be commissioned ahead of schedule.
“Reliance Power has the capacity to increase over 8 times from 600 megawatt to 5,000 megawatt in the next 18 months,” the company said in the statement.
It expects to begin coal production in 2012 in Sasan, ahead of the commissioning of the power plant.
“The project got registered with CDM-EB allowing it to earn 2.25 million certified emission reduction (CER) credits per year estimated to be worth over Rs.2,000 crore over 10 years,” it added.
CDM-EB stands for Clean Development Mechanism Executive Board, which supervises the Kyoto Protocol’s clean development mechanism is the sole point of contact for the registration of projects and issuance of CERs.
The company also said that its 2,400 MW Samalkot gas-based power project, one of the country’s largest such projects, was progressing ahead of schedule and all gas turbines would be commissioned before end of this year.
Reliance Power also received approval for the mine plan from Tilaiya coal mines in Jharkhand to produce about 40 million tonne per annum.
- Reliance Power's Tilaiya project gets approval for carbon credits - Oct 03, 2011
- Reliance Power quarterly net profit rises 42 percent - Feb 13, 2012
- Reliance Power's second quarter operating revenue up 189 percent - Nov 08, 2011
- Reliance Power total income doubles in third quarter - Feb 14, 2011
- Tamil Nadu to study LNG power project feasibility - Mar 29, 2012
- Tamil Nadu, Andhra Pradesh may get ultra-mega power plants - Aug 15, 2011
- Reliance Power's Samalkot plant ready for commissioning - Feb 07, 2012
- Government decides in favour of R-Power's coal transfer plan - Apr 28, 2012
- Reliance Infra transfers 433 MW capacity to Reliance Power - May 28, 2010
- Reliance Power's Q1 operating revenues up 300 percent - Aug 11, 2011
- Reliance Power concludes India's largest fundraiser - Sep 28, 2010
- Reliance Power to raise capacity to 5,000 MW in 24 months - Sep 28, 2010
- Two Anil Ambani group firms propose $11 bn merger deal - Jul 04, 2010
- Reliance Power ties up Chinese bank funds for Sasan project - Dec 15, 2010
- Jharkhand to spend Rs.1,600 crore to lay power lines - Feb 26, 2012
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