September 08, 2008

Reliance Energy PAT in 2007-08 up by 35% YoY

Powered by a 36% increase in revenues from electricity sales, Reliance Energy Limited has posted a 35% YoY growth in profit after tax at INR 1,085 crore for the year ended March 31st 2008 as compared with INR 801.4 crore in the year ended March 31st 2007.

Its total income grew up by 14% YoY to INR 7,501 crore as against INR 6,575 crore in 2007. In the fourth quarter ended March 31st 2008, the net profit grew up by 31% YoY to INR 311 crore from INR 237 crore in the fourth quarter ended March 31st 2007. Aggregate sales of electricity stood at 9,292 million units in 2007-08 up by 6% YoY as compared with 8,766 million units in 2006-07. Revenues from energy sales during 2007-08 stood at INR 4,920 crore as against INR 3,611 crore in 2006-07.

Mr Lalit Jalan director of Reliance Energy said that "We expect Reliance Infrastructure to perform well in the years ahead since we are executing infrastructure projects worth about INR 16,000 crore in two years besides various Reliance Power projects. The new name reflects the current nature of our business and our vision and focus to emerge as a premier infrastructure company." He added that it is developing 2 metro rail projects in Mumbai and Delhi, 5 road projects in Tamil Nadu, 2 SEZs and a business district in Hyderabad.