Reliance Power (RPOWER) Q4 14/15 earnings summary

Executive summary

• Operational capacity reached 5,945 MW from 4,525 MW; all six 660 MW units at Sasan UMPP were commissioned almost a year ahead of schedule.

• Consolidated total income was ₹7,202 crore vs ₹5,546 crore; net profit was ₹1,028.32 crore vs ₹1,026.67 crore.

Financial highlights

• Consolidated revenue from operations rose to ₹6,903.42 crore from ₹5,174.75 crore; total income was ₹7,202 crore vs ₹5,545.91 crore.

• Consolidated profit before tax was ₹1,286.36 crore vs ₹1,238.81 crore; profit after tax was ₹1,028.32 crore vs ₹1,026.67 crore.

• Standalone total income was ₹369.32 crore vs ₹366.12 crore; standalone profit after tax declined to ₹25.10 crore from ₹56.48 crore.

Outlook and guidance

• A Rajasthan government MoU targets development of 6,000 MW of solar projects; further solar capacity is under consideration.

• Samalkot’s 2,262 MW gas-fired project was expected to begin commercial operations progressively from FY 2016-17, subject to gas allocation.

• Long-term power demand outlook was described as positive as economic growth resumes; renewable expansion and coal auctions were identified as sector opportunities.