Reliance Power Q2 profit flat at Rs 273 cr

Reliance Power’s consolidated net profit remained flat at Rs 273.13 crore in the second quarter of this fiscal.

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The company had earned a profit of Rs 272.07 crore in the same quarter of the previous financial year, it said in a statement.

Total income decreased to Rs 2,379.68 crore in the September quarter, from Rs 2,562.25 crore a year ago.

The group is engaged in only one segment — generation of power — and as such, there is no separate reportable segment, it added.

The generation of electricity remains on the lower side in July-September because of monsoon and maintenance.

The hydropower generation goes up in the second quarter, due to which demand for thermal or other segments goes down.

Similarly, there is a lot of maintenance work at power plants as well as coal mines during the monsoon, it added.

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