On Wednesday, RattanIndia Power announced a consolidated
profit of Rs 10,665.75 crore for the March 2024 quarter. This huge profit was
primarily due to an exceptional gain. In the same quarter last year, the company
had posted a loss of Rs 483.19 crore according to a BSE filing.
The company's total income stood at Rs 995.73 crore this
quarter. Last year in the same period the total income was Rs 988.64
crore.
Additionally,
the company recorded exceptional gains of Rs 10,635.08 crore.
In the financial year 2023-24, the company
recorded a consolidated net profit of Rs 8,896.75 crore. This is a significant
improvement in comparison with the previous financial year, where it reported a
loss of Rs 1,869.85 crore.
The Amravati Plant emerged as one of the Maharashtra's
top-performing facilities, recording an impressive 84% Plant Load Factor (PLF)
and 87% availability up to June 2023.
In
excess of that, the plant handled a record-breaking number of coal rakes in this
quarter, unloaded 414 rakes, at an average of 4.5 rakes per day.
Technical
analysis of RTNPOWER:
As per monthly chart of RTNPOWER we can see that it is trading near its immediate resistance of Rs. 16.50. Today, in live market it has given a closing at Rs. 15.10, at a buying freeze (4.86 %). In monthly chart, it has made a beautiful round bottom pattern or base. If the stock breaks out of its resistance of Rs. 16.30, it may go upto Rs. 21 level. As per chart and as well as quarter 4 results, the stock is a good buy for long term. Investors should keep close monitoring before making any investment decision.
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