Grid play

Mumbai, Nov. 8: Anil Ambani-controlled Reliance Power today posted a nearly flat net profit of Rs 235.48 crore in the second quarter ended September against Rs 234.80 crore in the year-ago period.

Total income increased 46 per cent to Rs 751 crore compared with Rs 512 crore in the corresponding period last year. The company reiterated its ambitions of becoming a 5,000 megawatt (MW) power producer by 2012.

The rise in income has been attributed to the performance of its 600MW power plant at Rosa in Uttar Pradesh.

Reliance Power chief executive officer J.P. Chalasani said, “ Our 600MW operating plant in Rosa continues to be stable and is operating at a high load factor. It has nearly doubled generation on a year-on-year basis, reconfirming our strong operational capabilities.”

Reliance Power said operating revenues at Rosa had grown nearly three times to Rs 474 crore from Rs 169 crore in the previous year. “The projects under construction are progressing satisfactorily and we are well on track to becoming a 5,000MW operating company by 2012,” he said.

Outlining the status of the company’s other projects, Reliance Power said the 600MW Butibori project in Maharashtra would be fully commissioned by the middle of next year. The first unit of the 3,960MW Sasan mega power project is likely to be commissioned by the end of 2012.

Reliance Infra

Reliance Infrastructure’s net profit in the second quarter of this fiscal was flat at Rs 361 crore compared with Rs 360 crore a year ago. Total operating income stood at Rs 5,728 crore against Rs 3,969 crore last year, an increase of 44 per cent.