Reliance Power Swings To April-June Profit; Revenue Slips 5%

Reliance Power Ltd. reported a consolidated net profit of ₹446.8 million for the April–June quarter, compared with a net loss of ₹978.5 million a year ago. Revenue from operations fell 5.4% on year to ₹18.86 billion.

Sequentially, net profit dropped over 64%, and revenue was down 4.7%.

Other income rose to ₹1.4 billion from ₹769.5 million in the year-ago period.

Total expenditure, including finance costs, stood at ₹19.53 billion, lower than ₹21.43 billion a year earlier. Finance costs dropped to ₹4.26 billion from ₹5.51 billion. The company booked a tax credit of ₹276.2 million, up from ₹249.5 million.