Reliance Power posts 94% growth in income
Reliance Power, a part of the Anil Ambani-led group, on May 13 reported a 94 per cent rise in total income for the fourth quarter of 2012-13 at Rs.1,265 crore ($233 million) and a 15-per cent increase in new profit at Rs.266 crore ($49 million). For the year as a whole, the company reported a total income of Rs 5,284 crore ($971 million), up 91 per cent, and a net profit of Rs.1,011 crore ($186 million), up to 17 per cent. The company's Chief Executive JP Chalasani said that in 2012-13, the company achieved significant landmarks in the development of its flagship 3,960 MW Sasan Ultra Mega Power Project -- the largest integrated power plant and coal mining project in the world. The company commenced coal production from its 20 million tonne per annum Moher mines in record time in September 2012. He added that this will become the largest coal mine in the country in terms of volume handled. Reliance Power also commissioned its first 660 MW, super-critical unit of the Sasan ultra mega power project in March 201.