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Anil Ambani-led Reliance Power Limited has reported a turnaround in profitability for the fourth quarter ended March 31, 2025 (Q4 FY25), even as both revenue and total income witnessed year-on-year declines. As per the company's regulatory filing, revenue from operations edged lower by 1 per cent to Rs 1,978 crore, compared to Rs 1,997 crore in the corresponding quarter of the previous fiscal. Total income also fell by 5.83 per cent, reaching Rs 2,066 crore, down from Rs 2,193.85 crore in Q4 FY24.

Despite the top-line contraction, Reliance Power swung back into profitability, posting a net profit of Rs 125.6 crore for the March quarter. This marks a significant improvement from a net loss of Rs 397.6 crore reported during the same period last year.

Reliance Power's EBITDA

Operationally, the company demonstrated substantial gains. Total expenses dropped markedly to Rs 1,998.49 crore from Rs 2,615.15 crore a year earlier. As a result, the company recorded a massive jump in EBITDA (earnings before interest, taxes, depreciation, and amortisation), which surged over 1,100 per cent to Rs 589.8 crore, compared to Rs 48.8 crore in the previous year. The EBITDA margin rose sharply to 29.8 per cent, up from just 2.4 per cent in the prior-year quarter, indicating improved cost efficiency and better profitability.

The financial report also highlighted a notable strengthening of the company’s balance sheet. Over the past year, Reliance Power successfully met debt obligations amounting to Rs 5,338 crore. Its debt-to-equity ratio improved significantly, dropping to 0.88:1 from 1.61:1 in FY24, placing the company among the most financially stable players in the sector. As of March 31, 2025, the firm’s net worth stood at Rs 16,337 crore.

The quarterly results were announced post-market hours on Friday. Ahead of the announcement, shares of Reliance Power closed at Rs 38.79 on the National Stock Exchange (NSE), registering a 1.39 per cent gain, or Rs 0.53, on May 9.