Reliance Power Reports Reduced Losses Amidst Higher Income

Reliance Power announced a consolidated loss reduction to Rs 97.85 crore for the June 2024 quarter, attributing the improvement to increased income. This is a significant decrease from the Rs 296.31 crore loss reported in the same quarter of the previous financial year. The company's income rose to Rs 2,069.18 crore.

Reliance Power's consolidated loss for the June 2024 quarter narrowed to Rs 97.85 crore, driven by improved income levels.

The company had previously reported a loss of Rs 296.31 crore for the same period in the preceding financial year, as per its regulatory filing.

Total income increased from Rs 1,951.23 crore to Rs 2,069.18 crore year-over-year.

However, shares of Reliance Power declined by 2.01 percent, closing at Rs 29.77 on the BSE.

A member of the Reliance Group, the company boasts close to 6,000 MW of operational power generation assets.

(With inputs from agencies.)