Nov 5 Indian utility Reliance Power Ltd reported a 2.1 percent rise in quarterly net profit, beating expectations helped by higher generation capacity.
The company, controlled by billionaire Anil Ambani, reported a net profit of 2.4 billion rupees ($44.65 million) for the second quarter ended Sept. 30, compared with 2.35 billion rupees a year ago. Net sales more than doubled to 10.79 billion rupees, it said.
Analysts on average had expected a net profit of 2.1 billion rupees according to ThomsonReuters I/B/E/S.
($1 = 53.75 rupees) (Reporting by Kaustubh Kulkarni and Aradhana Aravindan in MUMBAI; Editing by Matt Driskill)
Trending On Reuters
India's biggest e-commerce firm Flipkart is buying domestic online fashion retailer Jabong from Global Fashion Group for $70 million in cash, the latest consolidation move in the country's e-commerce sector as competition intensifies. Full Article