Reliance Power’s second quarter operating revenue up 189 percent

November 8th, 2011 - 5:14 pm ICT by IANS  

Mumbai, Nov 8 (IANS) Reliance Power, part of the Anil Dhirubhai Ambani Group (ADAG), Tuesday said its operating revenue for the second quarter ended Sep 30 had increased by a whopping 189 percent to Rs.488 crore, compared to Rs.168.69 crore in the like period of 2010-11.

The total income in the quarter under review went up by 47 percent at Rs.750.69 crore as against Rs.512.41 crore in the previous corresponding period, the company said in a regulatory filing at the Bombay Stock Exchange (BSE).

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) from generating assets also shot up 168 percent in the quarter under review to Rs.171 crore.

The company said that it will commission the first unit (300 MW) of phase 2 of the Rosa power plant next month. The second phase has a total planned capacity of 600 MW.

“Our 600 MW Rosa power plant continue to be stable and is operating at a higher plant load factor. It has nearly doubled generation on a year-on-year basis,” J.P. Chalasani, chief executive, Reliance Power said in a statement.

According to the statement , the first 660 MW unit of the 3,960 MW Sasan ultra mega power project (UMPP) in Madhya Pradesh is expected to be commissioned by the end of 2012.

With regards to its 2,400 MW Samalkot project in Andhra Pradesh, the Anil Ambani firm said that all six gas turbines for the plant had reached India and that two of them have already been installed.

In the renewable energy space the company said that it has fast-tracked the implementation of various projects including a 40 MW solar photo-voltaic project and a 100 MW concentrated solar power project in Rajasthan and a 200 MW wind power project in Maharashtra.

All three of these clean energy projects are expected to be commissioned in the next 18 months.

“The projects under construction are progressing satisfactorily and we are well on track to becoming a 5,000 MW operating company by 2012,” Chalasani said.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe