Reliance Energy Net Rises 25% In Jun`07 Qtr

Reliance Energy LimitedReliance Energy recorded a 25.45% enhancement in net profit to Rs 2,215.60 million for the quarter ended June 2007 from Rs 1,766.10 million in the corresponding period ended June 2006.

The company’s net sales arose 40.63% to Rs 16,240.10 million for the quarter as compared with Rs 11,548.50 million in the same quarter, a year ago. Total income for the quarter grew 49.62% to Rs 19,839.3 million from Rs 13,259.7 million in the same quarter, last year.

The earnings per share (EPS) of the company climbed up 16.47% from a year ago to Rs 9.69 in the quarter.

According to a REL release that its total revenues from energy sales jumped to Rs 1,285 crore against Rs 912 crore, which showed up an increase of 41%.

The combined sales of electrical energy stood at 2,489 million units, an increase of 12% over the corresponding previous period.

The company bought 1,337 million units of electrical energy from external resources in the same period, which is higher by 16.5% compared to the offtake in the corresponding previous period.

Additionally, the energy cost purchased altered by 113.7% to Rs 671 crore compared to Rs 313.7 crore. This was mainly because of the offtake of costly power to deal with the rising Mumbai’s power demand.