Reliance energy clocks a net profit of Rs 472 crore

Mumbai, Oct 17 (UNI) Anil Ambani owned Reliance Energy (REL) reported a net profit of Rs 472 crore for the half year ended this September as against Rs 363 crore in the corresponding previous year.

Total Income of the Company grew to Rs 3,712 crore (USD 932 million) against Rs 2,900 crore in the corresponding previous period, registering an increase of 28 per cent.

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 (USD 2.46 billion).

During the current half year Reliance Power, 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 (SEBI) for its proposed Initial Public Offering (IPO) 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 (USD 638 million) against Rs 1,823 crore in the corresponding previous period.

The total sales of electrical energy during the half year were Rs 2,543 crore (USD 638 million), against Rs 1,823 crore in the corresponding previous period.

The aggregate sales of electrical energy were 4,860 million units compared to 4,416 million units in the corresponding previous period.

During the period under review, the consumer base in Mumbai supply area increased by about 0.2 lakh to 26.0 lakh consumers.

UNI