Reliance Power's profit doubled

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-Anil is Ambani's company

-July to September quarterly profit doubled

New Delhi / Mumbai on 23rd October 2020 Friday

Anil Ambani's company Reliance Power has doubled its net profit amid a number of court cases and financial constraints.

The company's profit doubled in the three months ended July-September. The company disclosed these details in the stock market on Thursday. The company's net profit doubled to Rs 105.67 crore in the last three months. The company had posted a net profit of Rs 45.06 crore in the same period last year.

The company had a revenue of Rs 2,626.49 crore in September. The company had revenue of Rs 2,239.10 crore in the same period last year.

Thus, the company is currently heavily indebted. The company claimed that it would raise capital by selling gas-fired power plants in a timely manner. The company would also sell some of its subsidiary assets. A company spokesperson said the demand for electricity in the capital New Delhi had declined due to the lockdown following the Corona. Demand for electricity declined, especially in the industrial and consumer segments. Electricity demand returned to normal after the lockdown was lifted.

Currently, Anil Ambani is heavily indebted and a Chinese company has filed a case against him in a London court for its money. The financial condition of some of Anil's other companies is also in dire straits. At the time, Reliance Power's improved position was reassuring.


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