Reliance Power's net profit rises by 12% to Rs 340 crore

Anil Ambani's Reliance Power reported consolidated net profit of Rs 340.49 crore for the June quarter ended 2016 (Q1FY17), a rise of 12.51% from Rs 302.64 crore in the similar period of the previous year.

The company's consolidated total income from operations stood at Rs 2678.68 crore, a sequential decline of 0.19% from same quarter previous year.

It's operating profit (EBITDA) was at Rs 1141.99 crore, up by 5.32% year-on-year (yoy). While operating profit margin was at 42.63%, expanding by 224 basis points yoy.

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On standalone front, RPower's net profit of Rs 18.27 crore, declined by 90.83% yoy. While total incomeof Rs 30.35 crore, increased by 35% yoy.

RPower's operational highlights were, the Sasan UMPP plant in Madhya Pradesh which generated 8003 million units. operating at availability of 92.6% in Q1FY17.

Also 100 megawatts concentrated solar power (CSP) project at Dhursar and Rajasthan generated 21.6 million units, operated at availability of 87%.\

Shares of Reliance Power closed at Rs 51.50, down by 3.74%.