Reliance Power March quarter profit jumps on lower tax expense

Reliance Power Ltd posted more than a three-fold increase in March quarter consolidated profit, helped by a 40 percent fall in tax expenses during the period.

The company, which is part of billionaire Anil Ambani's Reliance Group, reported a consolidated profit of 2.16 billion rupees ($33.53 million) for the quarter ended March 31, 2017, the company said.

Fourth-quarter consolidated revenue from operations stood little changed at 24.66 billion rupees.

The company had posted a rise in its quarterly profit in three of the four quarters preceding March quarter, according to Thomson Reuters data.