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Relilance Highway, Santacruz (East) CIN: L40101MH1995PLC084687 Mumbai - 400055, India Reliance Centre, Near Prabhat Colony, Off Western Express Reliance Power Limited ReLIlANce Highway, Santacruz (East) CIN: L40101MH1995PLC084687 Mumbai - 400055, India Tel: +91 224303 1000 Fax: +91 2243033662 www.reliancepower.co.in I February 14, 2020 BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai 400 001 Mumbai 400 051 BSE Scrip Code: 532939 NSE Symbol: RPOWER Dear Sirs, Re: Outcome of Board Meeting Further to our letter dated February 06, 2020 and pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we enclose herewith Statement of Unaudited Financial Results (Consolidated and Standalone) for the third quarter and nine months ended December 31, 2019 of the Financial Year 2019-20 along with Limited Review Reports by the Statutory Auditors of the Company. The above financial results were approved by the Board of Directors at its meeting held on February 14, 2020. The meeting of the Board of Directors of the Company commenced at 06.15 P.M. and concluded at 06.45 P.M. Summary of the Financial Results will be published in Newspapers as required under the Listing Regulations. Pursuant to Regulation 30 of the Listing Regulations we also wish to inform you that the Board at its above meeting has appointed Shri Sandeep Khosla as the Chief Financial Officer (CFO) of the Company with effect from April 1, 2020 in place of Shri Shrenik Vaishnav, who will cease from the office of CFO from close of business hours of March 31, 2020. The requisite details are enclosed as per Annexure I. Yours faithfully, For Reliance Power Limited Murli Manohar Purohit r' Vice President - Company Secretary & Compliance Officer Encl: As above Registered Office: Reliance Centre, Ground Floor, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai 400001 ReLIIANce Annexure -I Change in Key Managerial Personnel (KMP) - Details as per Regulation 30 of SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015. Details and Reason for Change: Shri Sandeep Khosla has been appointed as Chief Financial Officer (CFO) w.eJ. April 01, 2020 in place of Shri Shrenik Vaishnav who will cease from the office of CFO from close of business hours of March 31, 2020. Date of appointment I cessation (as applicable) & terms of appointment: 1. The appointment of Shri Sandeep Khosla as CFO termed as KMP is approved by the Board w.eJ. April 01, 2020. 2. Shri Shrenik Vaishnav who will cease from the office of CFO from close of business hours of March 31, 2020. Brief Profile (in case of appointment): Shri Sandeep Khosla is a qualified Chartered Accountant and Cost Accountant with 18 years of experience in large and listed entities. He has worked in Financial Services, Consumer Durable and Manufacturing Industries. He is an expert in Strategy, Controllership, Treasury, Audit, Tax and Compliances. Prior to- joining Reliance Power, Mr. Sandeep was associated with Reliance Commercial Finance _as a CFO. He has also worked with Bluestar, Bajaj Finance, Citi, Tata Capital, ICICI Bank & Tata Internet Services Limited. RELIANCE POWER LIMITED CIN : L40101MH1995PLC084687 Registered Office: Reliance Centre, Ground Floor, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai - 400 001. Tel: +91 2233031000 Fax: +91 2233033363 Website: www.reliancepower.co.in Email: [email protected] Statement of Consolidated Financial Results for the Quarter and Nine Months Ended December 31, 2019 Rupees in lakhs Sr. Particulars Quarter Ended Nine Months Ended Year Ended No. December September December December December March 31,2019 30,2019 31,2018 31,2019 31,2018 31,2019 [Restated] [Restated] Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Revenue from Operations 166,908 201,959 204,777 576,422 641,810 820,131 2 Other Income 22,885 21,951 5,105 53,619 23,075 33,295 Total Income 189,793 223,910 209,882 630,041 664,885 853,426 3 Expenses (a) Cost of fuel consumed 53,007 86,060 68,613 220,652 241,799 285,013 (b) Employee benefits expense 4,914 5,733 4,979 15,328 13,727 18,650 (c) Finance costs 74,096 77,815 73,989 229,451 211,228 320,849 (d) Depreciation and amortization expense 21,142 20,945 23,438 62,717 63,471 83,908 (e) Generation, administration and other expenses 32,114 25,660 23,804 81,490 78,099 123,505 Total expenses 185,273 216,213 194,823 609,638 608,324 831,925 4 Profit! (Loss) before exceptional items, share of net profits of / (loss) of 4,520 7,697 15,059 20,403 56,561 21,501 investment accounted for using equity method and tax (1+2-3) 5 Share of net profits of / (loss) of investment accounted for using equity - method 6 Profit! (Loss) before exceptional items and tax (4-5) 4,520 7,697 15,059 20,403 56,561 21,501 7 Exceptional Items (net) Advances writte off/Impairment of CWIP / write off of loan (417,019) Less: amount withdrawn from General Reserve - 101,702 - (315,317) 8 Profit! (Loss) before tax (6+7) 4,520 7,697 15,059 20,403 56,561 (293,816) 9 Income tax expense (a) Current tax (271) 3,394 3.625 7.791 12,764 5,450 (b) Deferred tax (100) (100) (62) (200) (987) (3,848) (c) Income tax for earlier years 55 0 (45) 55 (38) 173 Total tax expenses (316) 3,294 3,518 7,646 11,739 1,775 10 Profit! (Loss) from continuinn operations after tax (8-9) 4.836 4,403 11.541 12.757 44822 (295,591) 11 Profit from discontinuinQ operations before tax 104 104 104 311 311 412 12 Income tax expense of discontinuinu operations 1 1 1 2 3 3 13 Profitfrom dlscontinuinu operations after tax (11·12) 103 103 103 309 308 409 14 Profit! (Loss) for the periodl year (10+13) 4.939 4506 11.644 13.066 45.130 (295.182) 15 Other Comprehensive Income a Items that will not be reclassified to profit or loss Remeasurements of net defined benefit plans 18 18 (50) 36 (153) (51) b Item that will be reclassified to profit or loss 4,913 (7,745) 4,913 13,787 11,998 currency translation (Ioss)/Gains c Gains / (Losses) from investments in equity instruments designated at 15 15 fair value through Other Comprehensive Income Other Comprehensive Income/(Loss) for the period/ year 4,931 18 (7,795) 4,949 13,649 11,962 16 Total Comprehensive Income for the period/ year (14+15) 9,870 4,524 3,849 18,015 58,779 (283,220) 17 Profit attributable to: (a) Owners of the parent 4,939 4,506 11,644 13,066 45,130 (295,182) (b) Non-controlling interests 4,939 4,506 11,644 13,066 45,130 (295,182) 18 Other Comprehensive Income attributable to: (a) Owners of the parent 4,931 18 (7,795) 4,949 13,649 11,962 (b) Non-controlling interests - 4,931 18 (7,795) 4,949 13,649 11,962 19 Total Comprehensive Income attributable to: (17+18) (a) Owners of the parent 9,870 4,524 3,849 18,015 58,779 (283,220) (b) Non-controlling interests 9,870 4,524 3,849 18,015 58,779 (283,220) 20 Paid up Equity Share Capital 280,513 280,513 280,513 280,513 280,513 280,513 21 Other Equity 1,457,234 22 Earnings per equity share: (Face value of Rs. 10 each) Basic and Diluted (Rupees)- for continuing operations 0.172 0.157 0.411 0.455 1.598 (14.163) (before effect of withdrawal from scheme) ~ ~ Basic and Diluted (Rupees)- for continuing operations 0.172 0.157 0.411 0.455 1.598 (10.538) \-\ D.& ~ect of withdrawal from scheme) nd Diluted (Rupees)- for discontinuing operations 0.004 0.004 0.004 0.011 ........... 0.011 0.015 I?;-'=~ . d Diluted (Rupees)- for continuing and discontinuing operations 0.176 0.161 0.415 0.466 1.609 '~ ,~ J (No~~lised) 10,;>10 "'lWB~/J§' ";"~, ~.~ ..,I.1l1- ............ ,,,,, ••,,P ~C:J ,CCOUN1~ l..~~ ill "",,;~ ~:<p Notes 1. The aforesaid Consolidated Financial Results of Reliance Power Limited (the Parent Company) and its subsidiaries and associates (together referred to as the 'Group') were reviewed by the Audit Committee of the Board and subsequently, approved by the Board of Directors of the Parent Company at its meeting held on February 14, 2020. 2. The Consolidated Financial Results of the Group have been prepared in accordance with the Companies {Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the Companies Act, 2013. 3. The Group is engaged in only one Segment viz 'Generation of Power' and hence, there is no separate reportable segment as per Ind AS -108 'Operating Segments', 4. Financial results of Reliance Power Limited (Standalone) are as under: Rupeesinlakhs Nine months ended Year Quarter ended (Unaudited) ended (Unaudited) Particulars (Audited) December September December December December March 31, 31, 30, 31, 31, 31, 2019 2019 2019 2018 2019 2018 Revenue from operations for the 499 2,766 470 4,744 3,712 4,338 period/ year Profit / (Loss) for (4,414) 1,281 (9,554) (12,388) (9,424) (60,166) the period/ year Total Comprehensive (4,414) 12,469 (9,553) (1,200) 46,806 (385,729) Income/ (Loss) for the period/ year 5. National Company Law Tribunal (NCLT), Mumbai Bench, has heared the applications of Rosa Power Supply Company Limited (RPSCL) and Vidarbha Industries Power Limited (VIPL) for revision of Financial Statements for financial year 2017-18 at the hearing held on February 7 and 13, 2020 respectively and reserved the matter for the final orders.
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