Reliance Power’s consolidated net profit fell 6.24 per cent to Rs 272.07 crore in the second quarter of this fiscal, mainly due to lower generation of electricity. “The group has posted a net profit after taxes, minority interest and share of profit of associates of Rs 272.07 crore for the quarter ended September 30, 2016 as compared to Rs 290.19 crore for the quarter ended September 30, 2015,” Reliance Power said in a statement.
Total income has decreased to Rs 2,562.25 crore in the September quarter, from Rs 2,750.39 crore a year ago. The group is engaged in only one segment -- generation of power and as such, there is no separate reportable segment, it said in the statement.
The generation of electricity remains on the lower side in July-September because of monsoon and maintenance. The hydropower generation goes up in the second quarter, due to which demand for thermal or other segment goes down. Similarly, there is a lot of maintenance work at power plants as well as coal mines during the monsoon.