Anil Ambani's Reliance Power is back in the black as the company posted a net profit of Rs 41.95 crore in the December quarter (October - December) on account of higher income. It had reported a loss of Rs 1,136.75 crore in the year-ago quarter, the company said in an exchange filing. As of December 31, the company's net worth stood at Rs 16,217 crore.

The company's total income rose to Rs 2,159.44 crore during the quarter from Rs 1,998.79 crore a year ago. Expenses stood at Rs 2,109.56 crore, lower as against Rs 3,167.49 crore in third quarter of the preceding financial year.

Reliance Power, whose market cap is Rs 16015 crore, became a debt-free company on a standalone basis, successfully clearing all outstanding dues to lenders. The private company is said to be looking for new investment opportunities.

In a statement, the company said it has achieved zero bank debt status, which means it has no outstanding balance to any bank -- private or public. Total debt servicing, including maturity repayment in the April-December period of FY25 was Rs 4,217 crore. READ | Meet woman, who has joined Azim Premji's Rs 330000 crore company in key role, not from IIT, IIM

Reliance NU Suntech Pvt Ltd, a 100 per cent subsidiary of Reliance Power, recently won a solar plus battery energy storage system (BESS) project from the Solar Energy Corporation of India (SECI) for 930 MW plus 1,860 MWH.

Source : DNA India