Reliance Power Q2 profit flat at Rs273 crore

Reliance Power Q2 profit flat at Rs273 crore

By: Ritika shree
11 Nov 2017

New Delhi: Reliance Power’s developed net profit remained flat at Rs273.13 crore in the second quarter of this fiscal.

The company had earned a profit of Rs272.07 crore in the same quarter of the previous financial year, it said in a statement. Total income decreased to Rs2,379.68 crore in the September quarter, from Rs 2,562.25 crore a year ago.

The group is engaged in only one segment — generation of power — and as such, there is no separate reportable segment, it added. The generation of electricity always on the lower side in July-September because of monsoon and maintenance.

The hydropower generation goes up in the second quarter, due to which demand for thermal or other segments goes down. Similarly, there is a lot of maintenance work at power plants as well as coal mines during the monsoon, it added.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.