Reliance Power Surges On Profit Announcement

Shares of Reliance Power soared over 6% as the company reported a net profit of Rs 41.95 crore for Q3, driven by increased income. The share value increased on both BSE and NSE. Notably, the company achieved zero bank debt status and reported an improved financial position.

Shares of Reliance Power rose sharply on Thursday, closing over 6% higher following their announcement of a Rs 41.95 crore net profit in the December quarter, attributed to increased income.

The stock concluded the day at Rs 42.39 per share on the BSE, marking a 6.27% increase. During intraday trading, it peaked at Rs 43.95, reflecting a 10.17% surge. Similar trends were observed on the NSE, where the stock reached Rs 42.45, up 6.33%.

Financial performance indicators were strong; market capitalization increased by Rs 1,004.25 crore and total income rose to Rs 2,159.44 crore. Additionally, Reliance Power proclaimed no outstanding bank debt.

(With inputs from agencies.)