Reliance Energy Revenue Doubles In September Quarter; Shares Leap

Reliance Energy’s revenue greater than doubled to Rs 106 crore.

Reliance Energy’s web revenue greater than doubled in quarter ended September 2020, the corporate’s trade submitting confirmed. The Anil Ambani-promoted firm Reliance Energy reported web revenue of Rs 106 crore, up 135 per cent from Rs 45 crore posted in the course of the corresponding interval final 12 months.

Its income from operations rose 21 per cent to Rs 2,449 crore as in opposition to Rs 2,018.59 crore in the identical interval final 12 months.

“The corporate’s debt to fairness of two.30:1 was among the many lowest in business regardless of of ongoing COVID-19 pandemic and firm repaid Rs 894 crore in first half of the present monetary 12 months and can repay Rs 2,290 crore in H2 FY21 which can additional enhance the debt fairness ratio,” the Mumbai-based energy producer stated in a press launch.

Reliance Energy’s EBITDA (Earnings earlier than curiosity, taxes, depreciation and amortization) or working revenue got here in at Rs 1,198 crore, the corporate’s launch added.

Reliance Energy shares had been locked in a 20 per cent higher circuit at Rs 3.28. Within the final two buying and selling periods, Reliance Energy shares have rallied 32 per cent.

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