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| Exchange Disseminated Time | Reliance Power Ltd has announced the following results for the Quarter & Year ended March 31, 2014:
The Un-Audited Standalone results for the Quarter ended March 31, 2014
The Company has posted a net (loss) of Rs. (345.60) million for the Quarter ended March 31, 2014 where as the Net Profit was at Rs. 620.80 million for the Quarter ended March 31, 2013. Total Income is Rs. 1018.60 million for the Quarter ended March 31, 2014 where as the same was at Rs. 436.70 million for the Quarter ended March 31, 2013.
The Audited Standalone results for the Year ended March 31, 2014
The Company has posted a net profit of Rs. 564.80 million for the Year ended March 31, 2014 where as the same was at Rs. 5139.30 million for the Year ended March 31, 2013. Total Income is Rs. 3181.40 million for the Year ended March 31, 2014 where as the same was at Rs. 2508.50 million for the Year ended March 31, 2013.
"The Scheme of Amalgamation ("Scheme") of Reliance Clean Power Private Limited ('RCPPL'), a wholly owned subsidiary of the Company, and the Company has been sanctioned by the Hon'ble High Court of Bombay vide its order dated May 09, 2014 and the same has been filed with the Registrar of Companies (RoC), on May 16, 2014. In terms of the Scheme with effect from April 01, 2012 (appointed date), inter-alia. following effect have been given:
(a) The Company has recorded all assets and liabilities as appearing in the books of RCPPL at their respective fair values.
(b) Intercompany investments, balances and transactions has been cancelled.
(c) The excess of liabilities over assets of Rs. 2.65 lakhs has been debited to Goodwill Account on account of transfer of the said assets and liabilities as stipulated in the Scheme.
On account of the above Scheme, Profit before tax for the quarter and year ended March 31, 2014 of the company is higher by Rs. 544 lakhs. However, there is no impact of the same in the consolidated financials. The results of the Company for the current quarter/ year ended March 31, 2014 includes figures of RCPPL and hence are not comparable with previous corresponding quarter / year ended March 31, 2013 and quarter ended December 31, 2013."
The Consolidated Results are as follows:
The Un-Audited Consolidated results for the Quarter ended March 31, 2014
The Group has posted a net profit after taxes, Minority Interest and share of Profit / (Loss) of Associates of Rs. 2688.80 million for the Quarter ended March 31, 2014 as compared to Rs. 2660.60 million for the Quarter ended March 31, 2013. Total Income has increased from Rs. 12648.90 million for the Quarter ended March 31, 2013 to Rs. 13995.50 million for the Quarter ended March 31, 2014.
The Audited consolidated results for the Year ended March 31, 2014
The Group has posted a net profit after taxes, Minority Interest and share of Profit / (Loss) of Associates of Rs. 10266.70 million for the year ended March 31, 2014 as compared to Rs. 10114.60 million for the year ended March 31, 2013. Total Income has increased from Rs. 52837.70 million for the year ended March 31, 2013 to Rs. 55459.10 million for the year ended March 31, 2014. |
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