Mumbai, Jan. 25: Reliance Power today beat Street expectations by posting a 30 per cent rise in net profit for the quarter ended December at Rs 266 crore against Rs 204 crore in the same period last year.
Total income jumped 135 per cent to Rs 1,586 crore from Rs 674 crore.
According to chief executive officer J.P. Chalasani, a spurt generation from the company’s 1,200 megawatt (MW) Rosa power plant in Uttar Pradesh contributed to the robust performance.
He said pre-commissioning activities had started at its 3,960MW Sasan project.
During the quarter, the Rosa plant generated 2,407 million units against 987 million units in the previous year.
The company said the second 300MW unit of the Butibori project in Maharashtra had been synchronised and was ready for operations.
On the NSE, the shares of Reliance Power ended over 5 per cent higher at Rs 94.50 against the previous close of Rs 89.55.
Biotechnology firm Biocon today posted a 9.38 per cent rise in net profit for the third quarter ended December at Rs 92.81 crore against Rs 84.85 crore in the same period last year.
Net sales rose to Rs 634.22 crore from Rs 516.59 crore in the year-ago period.
Biocon shares rose 1.50 per cent to Rs 267.60 on the BSE today.