RattanIndia Power's Profit Plunge Amidst High Base Effect

RattanIndia Power reported a significant drop in net profit to Rs 125.94 crore for the March quarter, affected by a high base effect from the previous year's exceptional gains. The de-recognition of Sinnar Thermal Power Ltd's assets led to a gain on the loss of control recorded in their financial results.

RattanIndia Power announced a notable decline in its consolidated net profit to Rs 125.94 crore for the March quarter, primarily due to a high base effect from an exceptional gain recorded the previous year.

The previous year's profit was significantly bolstered by a Rs 10,635 crore gain in Q4 FY24, the company revealed in a regulatory filing. Despite this decrease in profit, the company's total income rose to Rs 1,028.61 crore compared to Rs 995.73 crore in the corresponding period of the previous fiscal year.

The company's financials also reflected the de-recognition of Sinnar Thermal Power Ltd (STPL) from its consolidated statements, which contributed to a Rs 10,658.88 crore gain on the loss of control. This development followed the reinitiation of STPL's Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code by NCLT-New Delhi in January.

(With inputs from agencies.)