Reliance Energy posts Rs 72.56 cr revenue in March quarter, Power Information, ET EnergyWorld

Reliance Power posts Rs 72.56 cr profit in March quarter

New Delhi: Reliance Energy on Friday reported a consolidated internet revenue of Rs 72.56 crore for the March 2021 quarter, primarily on account of decrease bills. The corporate had posted a consolidated internet lack of Rs 4,206.38 crore within the quarter ended March 2020, it mentioned in a BSE submitting.

The whole earnings of the corporate stood at Rs 1,691.19 crore within the March quarter in comparison with Rs 1,902.03 crore a yr in the past.

For fiscal 2020-21, the corporate’s consolidated internet revenue was Rs 228.63 crore, in comparison with Rs 4,076.59 crore in 2019-20.

The whole earnings was Rs 8,388.60 crore in 2020-21 as towards Rs 8,202.41 crore within the earlier fiscal.

“In the course of the quarter ended September 2020, RPSCL (Rosa Energy Provide Firm Ltd an arm of RPower) had created a contingency provision of Rs 244 crore towards varied issues pending earlier than regulatory authorities.

“Primarily based on developments and present evaluation, the administration is of the view that the mentioned provision is not required and accordingly the availability has been reversed in the course of the quarter ended March 31, 2021. Impression of the mentioned reversal is below Common Administration and different bills for the quarter ended March 31, 2021,” the corporate mentioned.

The overall administration and different bills of the corporate within the March quarter got here right down to Rs 6.23 crore from Rs 618.80 crore within the corresponding interval a yr in the past.

The corporate’s assertion mentioned that its internet price in FY21 stood at Rs 12,246 crore and it has diminished debt by Rs 3,108 crore.

The debt-equity ratio has improved from 2.41:1 instances in FY20 to 2.08:1 instances in FY21.

Concerning the COVID-19 scenario, it mentioned: “In view of energy era being thought of because the important exercise as additionally given the expertise of sustaining its operation efficiently in the course of the pandemic yr, the Group is assured of one other yr of profitable operations with the help from its energy procurers and different stakeholders”.

Reliance Energy Restricted, part of the Reliance Group, is India’s main non-public sector energy era and coal assets firm.

The corporate has one of many largest portfolio of energy initiatives within the non-public sector, based mostly on coal, fuel, hydro and renewable vitality, with an working portfolio of 5,945 megawatts.

Supply hyperlink