RPower loss widens to Rs 291 crore in Q3

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Reliance Power on Saturday said its consolidated net loss widened to Rs 291.54 crore in the December 2022 quarter.

The company's consolidated net loss was Rs 97.22 crore in the quarter ended December 2021, a BSE filing showed.

The total expenses rose to Rs 2,126.33 crore in the quarter from Rs 1,900.05 crore in the year-ago period.

Its total income stood at Rs 1,936.29 crore in the quarter against 1,858.93 crore a year ago.

The company made a debt repayment of Rs 178 crore in the quarter, and its debt-equity ratio stood at 2.03:1.

It reported a net worth of Rs 11,219 crore. It has an operating portfolio of 5,945 MW.

The Board of Directors, at its meeting held on Saturday, has appointed Ashok Kumar Pal as the Chief Financial Officer (CFO) of the company from January 29, 2023.

Pal is a qualified Chartered Accountant with extensive hands-on experience of over 22 years. He has an established record of success in finance, accounts, taxation and other compliances.

He is associated with the company for more than 5 years. Before joining Reliance Power, he was associated with Deepak Nitrite Ltd. He has also worked with Shrink Packaging Private Ltd and Reliance Industries Ltd.