Anil Ambani (Anil Ambani)’s company Reliance Power has released its results for the fourth quarter of the last financial year. Reliance Power Limited has suffered a net loss of Rs 397.66 crore in the March quarter. The company suffered this loss mainly due to rising fuel prices. In a notice to the stock market, the company said that it had a profit of Rs 321.79 crore in the same period last year. However, the total income of the company increased to Rs 2,193.85 crore in the January-March, 2024 quarter from Rs 1,853.32 crore in the same period last year.
Two subsidiaries of Reliance Power recently settled debts worth Rs 1,023 crore with Reliance Commercial Finance, a branch of Authum Investments. Kalai Power Private Limited and Reliance Cleangen Limited signed agreements with RCFL. Apart from this, Reliance Power sold a 45 MW wind power project in Maharashtra to JSW Renewable Energy for Rs 132 crore.
Fuel cost of Rs 953 crore
Talking about expenses, fuel costs increased to Rs 953.67 crore during the quarter from Rs 823.47 crore in the January-March period in FY 2022-23. The company’s loss for the entire financial year 2023-24 widened to Rs 2,068.38 crore from Rs 470.77 crore in FY 2022-23.
Reliance Power share
On Friday, Reliance Power’s stock closed with a gain on the Bombay Stock Exchange. It closed at Rs 26.64, up 0.91 percent or Rs 0.24. The 52-week high of this stock is Rs 34.35. Whereas, the 52-week low is Rs 12.01. The company’s market cap is Rs 10,701.21 crore.
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