Mumbai, July 23 New Delhi-based electric power distribution firm, RattanIndia Power, on Wednesday reported a consolidated net loss of Rs 13.11 crore for the quarter ended June 30 (Q1 FY26) -- marking a sharp reversal from a net profit of Rs 93 crore in the same period of the previous year (Q1 FY25).
The company had also reported a profit of Rs 125.94 crore in the previous quarter (Q4 FY25), according to its stock exchange filing.
The company’s operating revenue for the first quarter of FY26 fell by 11.8 per cent year-on-year (YoY), coming in at Rs 821.96 crore, compared to Rs 931.83 crore in Q1 FY25.
On a sequential basis as well, revenue dipped from Rs 936.25 crore reported in the March quarter.
RattanIndia Power recorded an EBITDA of Rs 196 crore in Q1. The company owns a 1,350 MW thermal power plant at Maharashtra's Amravati, which comprises five units of 270 MW each.
This facility has the capacity to generate 11,826 million units (MUs) annually. Of the total capacity, 1,200 MW is tied up under a Power Purchase Agreement (PPA) with the Maharashtra State Electricity Distribution Company Limited (MSEDCL), while an additional 28 MW is sold on the open market.
During the quarter, the company sold 12.09 MUs on the power exchange, generating Rs 9.36 crore in revenue from open market sales in addition to the PPA earnings.
The company’s board also approved the appointment of Ravi Kumar Pakalapati as an Additional Director and Whole-Time Director, with immediate effect, it added in its filing.
Following the announcement of quarterly losses, RattanIndia Power's shares saw heavy selling pressure.
The stock, which trades below Rs 20, dropped over 5 per cent and closed the trading session at Rs 14.22, down by Rs 0.87 or 5.77 per cent on the National Stock Exchange (NSE). However, it touched an intra-day low of Rs 14.10.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor