Shares of Anil Ambani’s Reliance Power registered a positive movement, closing at ₹41.24 on Tuesday against the previous close of ₹41.10. extending gains for the day. This momentum in price comes after the company reported positive Q2 numbers, its board approving seeking enabling authorisation for issuance of FCCBs worth $600 million, its subsidiary bagging large shares in the FDRE project from SJVN. The scrip has gained a little more than 2% over the last five days, but lost nearly 13% over the month. It has fallen above 5% in the past six months. On a year-to-date basis, it slipped approximately 10%. The Reliance Group company posted a consolidated net profit of ₹87.32 crore for the September quarter of FY26, compared to a loss of ₹352 crore it logged in the corresponding period of the previous fiscal year, it said in a media statement on Monday.
The electric power generation firm witnessed a 12.17% YoY surge in its consolidated revenue from operations to ₹1,974.03 crore during the quarter under review.In the second quarter of the 2024-25 fiscal year (Q2FY25), it had clocked a revenue of ₹1,759.81 crore.At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹618 crore in Q2FY26, marking a 64% annual increase from ₹376 crore in the year-ago period.Reliance Power said that its debt-to-equity ratio, which was at 0.87, was among the lowest in the industry, adding that its debt servicing of ₹634 crore in the September FY26 quarter reflected “continued commitment to debt reduction”.Its networth, during the reporting quarter, stood at ₹16,516 crore, the Mumbai-based company added.
The rally comes against a backdrop of legal issues facing the Anil Ambani Group. The Enforcement Directorate has filed a fresh money laundering case against Anil Ambani and Reliance Communications, alleging fraud of over Rs 2,900.00 crore against State Bank of India. Additionally, Bank of Baroda has classified Reliance Communications loans as fraudulent, adding to the group's regulatory challenges.Despite these headwinds, Reliance Power has shown signs of financial improvement. In the June quarter, the company returned to profitability, posting a profit of Rs 44.68 crore, a significant turnaround from the Rs 97.85 crore loss in the same period last year.