Reliance Energy Q2 Results : Net profit at Rs 250 cr

Reliance Energy Limited has come out with its second quarter FY08 reults today. The company has posted standalone net profit of Rs 25o crore for the quarter ended September 2008 as against Rs 186 crore in the same quarter last year.

Net Profit grew by 34.17% to Rs 2,500.80 million compared to Rs 1,863.90 million for the same quarter last year. Total income of the company increased to Rs 17,999.20 million, 13.65% up for the September 07 quarter as against Rs 15,837 Crore for the second quarter in September 2006.

However standalone net sales of Reliance Energy declined to Rs 1259 crore from Rs 1408 crore. The other income  of the company stood at Rs 258 crore versus Rs 176 crore.

Shares of the company were last trading down Rs 238.40, or 12.52%, at Rs 1,666.

Analysts are in a view that through the unlocking of its share from Reliance Power IPO, Reliance Energy will bring more money to the company in the coming quarters.