Anil Ambani -promoted
Reliance Power on Friday posted an 11 per cent rise in its net profit at Rs 760.44 crore for the financial year ended March 31, 2011.
The company had reported a net profit of Rs 683.89 crore in the last financial year (2010-11), Reliance Power said in a statement.
Following the result announcement, shares of the company rose about 6 per cent on the Bombay Stock Exchange.
Total income of the company jumped a whopping 124 per cent at Rs 1,892.47 crore as compared to Rs 843.38 crore during the corresponding period in the previous fiscal.
Reliance Power currently has an operational capacity of 600 MW at its Rosa thermal power plant in Uttar Pradesh. It plans to hike this capacity to 5,000 MW by 2012, it said.
The company is also executing three ultra mega power projects at Sasan (Madhya Pradesh), Krishnapatnam (Andhra Pradesh) and Tilaiya (Jharkhand). These projects are of 4,000-MW capacity each.
The first 660-MW unit of the Sasan (4x660) project is likely to be commissioned in 2012, the statement added.
Approval for the mining plan for producing 40 million tonnes per annum from Tilaiya coal mines has been received from the government and development activities are under progress, it further added.
Reliance Power is also constructing a 2,400 MW gas-based power project at Samalkot in Andhra Pradesh, which is likely to be commissioned by this year-end.
Shares of the company were trading at Rs 117.90, up 6.70 per cent on the BSE.
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