Reliance Power Reports Widened Net Loss of Rs 296.31 Crore in Q1

10 Aug 2023 , 10:49 AM

Reliance Power reported a widened net loss of Rs 296.31 crore in the June quarter due to lower income and higher expenses. The company had a net loss of Rs 160.79 crore in the same period last year.

Total income decreased to Rs 1,958.72 crore in Q1 of the current fiscal from Rs 2,144.97 crore a year ago. Expenses rose to Rs 2,182.69 crore from Rs 2,145.90 crore in the same period last year, based on data.

The company’s board approved the issuance of 7,59,77,000 equity shares valued at Rs 10 each with a premium of Rs 10 per share, totaling Rs 151.95 crore to Reliance Commercial Finance Ltd.

Reliance Power shares settled at Rs 18.25 on the BSE, up 2.59 % from the previous close. Investors are closely watching the company’s steps to address its financial challenges and its impact on the market.

For feedback and suggestions, write to us at [e-mail]