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Reliance Power recorded a net profit of INR 87 crore for the quarter ending September 30, marking a strong recovery from a loss of INR 352 crore during the same period last year. The company's total income increased to INR 2,067 crore from INR 1,963 crore in the previous year, supported by higher operational revenues. Its board has approved seeking shareholder consent to raise up to USD 600 million through foreign currency convertible bonds (FCCBs) to fund expansion plans. The company's current operating portfolio stands at 5,305 MW, including 3,960 MW from Sasan Power Limited.
Reliance Power has reported a consolidated net profit of INR 87 crore (USD 10 million) for the quarter ended September 30, reflecting a turnaround from a loss of INR 352 crore (USD 41 million) recorded in the same quarter of the previous fiscal year. The improvement in earnings was primarily driven by higher income from operations and better cost management. Advertisement
During the period, the company's total income rose to INR 2,067 crore compared with INR 1,963 crore in the corresponding quarter of the prior year. This marks a moderate but steady increase in revenue, signalling an improvement in operational efficiency and project performance across its power generation units.
Reliance Power's board has also approved a proposal to seek shareholder approval for raising up to USD 600 million through the issuance of foreign currency convertible bonds (FCCBs). The funds are planned to be utilised for business expansion, refinancing of existing debt, and meeting general corporate requirements. The decision comes as the company looks to strengthen its balance sheet and secure capital for long-term growth.
Currently, Reliance Power, a part of the Reliance Group, has an operating portfolio of 5,305 megawatts, which includes 3,960 megawatts generated by Sasan Power Limited, one of India's largest integrated power plants. The company also operates several other projects across coal-based, gas-based, and renewable segments, contributing to its overall capacity.
Over the past few years, Reliance Power has focused on restructuring its liabilities and improving cash flow management. The return to profitability in the latest quarter reflects the progress achieved through these measures. The company's performance is being closely watched by investors, particularly as it plans to tap global markets for funding through FCCBs, a move that could help reduce financing costs and enhance its growth capabilities.
Source PTI
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