Anil Ambani-led Reliance Power, the power generation and coal resources company, on Saturday recorded a net loss of Rs 2,951.82 crore for the financial year 2018-19 as against net profit of Rs 840.46 crore in FY18.
Total income during the fiscal dropped to Rs 8,534.26 crore from Rs 9,871.01 crore a year earlier, Reliance Power said in a filing to the Bombay Stock Exchange.
The other income went up to Rs 332.95 crore in FY19 versus Rs 27 8.28 crore in FY18, it said.
On a one-time impairment, gas-based and concentrated solar power (CSP) assets impacted profit for the year as an exceptional item. This was excluding the one-time charges for the impairment of gas-based and CSP assets, profit for the year stands at Rs 197 crore, RPower said.
During January-March quarter, the Navi Mumbai-headquartered company posted a net loss of Rs 3,575.38 crore against a net profit of Rs 189.21 crore in the same quarter last year.
The total income of the company fell to Rs 1,687.86 crore during Q4 FY19 as compared to Rs 2,321.68 crore in Q4 FY18.
Meanwhile, Reliance Infrastructure (RInfra) delayed earnings release for the March quarter. The Anil Ambani group company was scheduled to declare its results on June 7 but couldn’t do so.
The board of the company hold a meet on June 14 to consider and approve audited financial results for the quarter and financial year ended March 31, 2019 and dividend, if any, RInfra said in an exchange filing.
The investors suffered jitters ahead of earnings numbers, with Reliance Infrastructure shares jumped to a 15-year low of Rs 72.80, down 14.30 per cent in intra-day on BSE on Friday. The stock has fell as much as 25 per cent in the last two trading days.
In a similar trend, Reliance Power share price dropped 6.23 per cent to close at Rs 6.17 apiece at BSE on Friday ahead of March quarter results.
