Reliance Energy posted a revenue of Rs 72.56 crore within the March quarter, Power Information, ET Energyworld

New Delhi: Reliance Energy on Friday reported a consolidated internet revenue of Rs 72.56 crore for the March 2021 quarter, primarily on account of decrease bills. The corporate had reported a consolidated internet lack of Rs 4,206.38 crore for the quarter ended March 2020, the BSE submitting mentioned.

The corporate’s complete revenue stood at Rs 1,691.19 crore for the March quarter, up from Rs 1,902.03 crore a yr in the past.

The corporate’s consolidated internet revenue for the monetary yr 2020-21 stood at Rs 228.63 crore, as in opposition to Rs 4,076.59 crore in 2019-20.

The whole revenue in 2020-21 was Rs 8,388.60 crore as in comparison with Rs 8,202.41 crore within the earlier monetary yr.

“Throughout the quarter ended September 2020, RPSCL (a department of Rosa Energy Provide Firm Restricted RPower) had made a contingency provision of Rs 244 crore in opposition to numerous instances pending earlier than the regulatory authorities.

“Based mostly on the event and present evaluation, the Administration is of the view that the mentioned provision is not required and accordingly the availability has been reversed in the course of the quarter ended March 31, 2021. The impact of the mentioned reversal is below common administration and different bills.” for the quarter ended March 31, 2021,” the corporate mentioned.

The corporate’s common administration and different bills declined to Rs 6.23 crore within the March quarter from Rs 618.80 crore in the identical interval a yr in the past.

The corporate’s assertion mentioned its internet belongings stood at Rs 12,246 crore in FY11 and it has diminished debt by Rs 3,108 crore.

The debt-equity ratio has improved from 2.41:1 instances in FY10 to 2.08:1 instances in FY2011.

Relating to the COVID-19 state of affairs, it mentioned: “Given the expertise of efficiently sustaining its operations in the course of the pandemic yr, with energy era being handled as a necessary exercise, the group is supported by profitable operations. One other yr of belief from our energy consumers and different stakeholders”.

Reliance Energy Restricted, part of the Reliance Group, is India’s main non-public sector energy era and coal processing firm.

The corporate has the biggest portfolio of energy initiatives within the non-public sector primarily based on coal, gasoline, hydro and renewable power with an working portfolio of 5,945 MW.

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