Reliance Power Ltd reported a consolidated loss of Rs 397.66 crore during the March quarter, mainly due to increased fuel costs. This is a significant decrease from the Rs 321.79 crore profit posted in the year-ago period, as per the company’s exchange filing. However, the company’s total income increased to Rs 2,193.85 crore from Rs 1,853.32 crore a year ago.
The cost of fuel consumed increased to Rs 953.67 crore during the quarter from Rs 823.47 crore in the January-March period in 2022-23. For the full fiscal year, the company’s losses widened to Rs 2,068.38 crore from Rs 470.77 crore loss in FY23.
The company’s board also approved authorizations for the issuance of foreign currency convertible bonds (FCCBs) and securities through qualified institutional placement (QIP) in accordance with the applicable rules, regulations, guidelines, and laws, including Securities and Exchange Board of India.
Reliance Power currently has close to 6,000 MW of operational power generation assets.