Reliance Power records loss of ₹3,558 crore in fourth quarter

Anil Ambani-group company Reliance Power has reported a loss of ₹3,558.51 crore for the March-ended quarter, as compared to the same period last year when it reported a profit of ₹189.21 crore.

This was due to impairment and higher finance costs incurred by the Mumbai-based power company. The company reported ₹4,170.19 crore as impairment loss, of which ₹1,017.02 crore was reduced through withdrawal from its general reserves.

Reliance Power announced its March results after a one-day delay from its June 7 date to report them.