The Hindu Business Line : REL Q1 net up 12.7 per cent

Reliance Energy has reported a 12.7 per cent increase in net profit for the first quarter ended June 20, 2006. This was on the back of higher income from electricity sales and EPC and contracts, helped along further by higher `other income'.

The company's net profit for the quarter was reported at Rs 177 crore (Rs 157 crore).

Total income rose 22 per cent, to Rs 1,326 crore (Rs 1,084 crore). Of this, net sales from electrical energy accounted for Rs 918 crore, growing 17.2 per cent. In volume terms, the company sold 2,229 million units of electricity, 3.4 per cent higher than in the same period a year ago.

Income from EPC and contracts was Rs 237 crore showing a growth of 43 per cent. Other income, consisting chiefly of interest income, rose 26 per cent, to Rs 171 crore (Rs 135 crore).

Earnings

REL's earnings before interest, tax, depreciation and amortisation was marginally higher, at Rs 305 crore (Rs 296 crore). Its EBITDA margin for the quarter was 23 per cent.

Its Dahanu thermal power station operated at a plant load factor (PLF) of 104.3 per cent (102.9 per cent). Its Goa power station's PLF was 98 per cent. Its Samalkot power station's PLF was 51.3 per cent (55.9 per cent) because of lower availability of gas, said a statement from the company.

During the period under review, the company purchased 1,148 million units of electrical energy from external sources, 8 per cent higher than a year ago. The cost of energy purchased increased by 14 per cent, to Rs 314 crore.

The REL scrip fell on the bourses. On BSE it lost Rs 11.80 over the day, closing at Rs 411.45 to end 2.79 per cent lower than at Tuesday's close.

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