Reliance Power Goes Flat In Q4, Net Profit Up By A Mere 1%
Biswajit Yadav / 19 May 2014
Reliance Power, a Reliance Group company today (May 19, 2014) announced its financial results for the quarter ended March 2014. The result was declared after the market hours and was better than the street expectations. On yearly basis, the topline has surged by around 9%, while bottomline has increased by around 1% during Q4FY14.
Reliance Power, a Reliance Group company today (May 19, 2014) announced its financial results for the quarter ended March 2014. The result was declared after the market hours and was better than the street expectations. On yearly basis, the topline has surged by around 9%, while bottomline has increased by around 1% during Q4FY14.
Reliance Power posted total revenue of Rs 1358.66 crore in Q4FY14 as against Rs 1247.49 crore during Q4FY13. The company operates in two business segments i.e. power generation and associated business activities (that includes project management, supervision and support services for generation and allied processes). The EBITDA of the company during this quarter stood at Rs 535.71 crore, reporting a jump of almost 16% on yearly basis during Q4FY14. Whereas, the net profit during last quarter of FY14 stood at Rs 268.88 crore as against Rs 266 crore during Q4FY14.
On margin front, the EBITDA margin during this quarter has increased by 235 basis points standing to 39.4% during the quarter ended March 2014, as against quarter ended March 2013. On yearly basis the EBITDA margin improved due to reduction in other expenses (down by 321 basis points) as proportionate to sales during the quarter ended March 2014. The net profit margin has however plunged by 153 basis points. This was due to increase in interest (up by around 7%) on yearly basis during Q4FY14.
During this quarter the second unit of Sasan Power and the second unit of Vidarbha Industries Power have also been commissioned. The 100 MW Concentrated Solar Power (CSP) project in Dhursar, Rajasthan is in advanced stage of commissioning.
The Rosa Power Plant in UP generated around 815 crore units with plant availability of 95%, while the 40 MW Dhursar Solar PV plant in Rajasthan operated at a PLF of 20.6%, generated 7.2 crore units. The 45 MW wind capacity in Vashpet, Maharashtra operated at a PLF of 19% and generated 5.6 crore units in its first year of operation. The 600 MW of Butibori power plant is also fully operational now.
Today the scrip of the company on BSE closed at Rs 85.9 up by 9.85% from its previous close. At current market price (CMP) of Rs 85.9 the scrip of the company is trading at a price to earnings (P/E) of 23.46x.
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