Reliance Power profit flat at Rs 273 cr

Reliance Power’s consolidated net profit remained flat at Rs 273.13 crore in the second quarter of this fiscal as against a profit of Rs 272.07 crore in the year-ago period. Total income decreased to Rs 2,379.68 crore in the quarter, from Rs 2,562.25 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 added. 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 segments goes down. Similarly, there is a lot of maintenance work at power plants as well as coal mines during the monsoon, it added.