Reliance Energy Q2 net up 34 per cent at Rs 250 crore

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New Delhi, Oct 17: Anil Ambani's Reliance Energy today announced a net profit of Rs 250.08 crores , an increase by 34.17 per cent for the quarter ended September 30, 2007.

The Anil Ambani owned company announced its unaudited financial results for the quarter ended September 30, 2007 posting a profit at Rs 250.08 crores against Rs 186.39 crores in the corresponding period last year, an increase of 34.17 per cent, company statement said.

Total income also rose 13.65 per cent to Rs 1,799.92 crore from Rs 1,583.70 crore for the said period.

Meanwhile, the company reported a net profit of Rs 472 crores (118 million dollars), an increase by 30 per cent for the half year ending September 30, 2007 against Rs 363 crores in the corresponding period last year, company statement said.

The company also said that it has registered a total income of Rs 3,712 crore (932 million dollars), against Rs 2,900 crore in the corresponding previous period, an increase of 28 per cent Cash Profit of Rs 619 crore ( 155 million dollars), against Rs 484 crore in the corresponding previous period, an increase of 28 per cent.

The Annualised Cash Earnings Per Share (Cash EPS) of Rs 54.2 (US$ 1.4), for the half year ended September 30, 2007 Annualised Earnings Per Share (EPS) of Rs 41.3 (US$ 1.03), for the half year ended September 30, 2007, the company statement said.

The Company ranks among top Indian private sector companies in terms of net worth. As on September 30, 2007, the net worth of the company stood at Rs 9,796 crore (US$ 2.46 billion).

The Company remains debt free at the net level, and enjoys the top-end ratings of 'AAA' and 'Ind AAA' by CRISIL and FITCH, respectively.

Reliance Power Limited, an associate company in which REL holds 50 per cent of equity capital, has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India on October 3, 2007 for its proposed Initial Public Offering of 130 crore equity shares of Rs 2 each for cash at a premium to be decided through the book building process.

The Company's aggregate revenues from energy sales during the half year were Rs 2,543 crore (US$ 638 million) against Rs 1,823 crore in the corresponding previous period, an increase of 40 per cent.

The aggregate sales of electrical energy were 4,860 million units compared to 4,416 million units in the corresponding previous period, an increase of 10 per cent. During the period under review, the consumer base in Mumbai Supply area increased by about 0.2 lakh to 26.0 lakh consumers.

During the half year ended September 30, 2007, the Company's Dahanu Thermal Power Station (DTPS) operated at a Plant Load Factor (PLF) of 99.1 per cent against the PLF of 99.2 per cent achieved during the corresponding previous period.

The Samalkot Power Plant operated at a Plant Load Factor (PLF) of 66.2 per cent, against the PLF of 48.9 per cent achieved during the corresponding previous period. The improvement in PLF is mainly due to mixed fuel operation and increased gas supply for meeting the growing grid demand.

The Goa Power Station maintained a Plant Load Factor (PLF) of 79.3 per cent during the period under review against the PLF of 88.9 per cent achieved during the corresponding previous period.


UNI

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