Reliance Power shares fall 3% despite ₹87 crore Q2 profit, board approves $600 million FCCB proposal and more

This decline in price comes despite the company reporting positive Q2 numbers, its board approving seeking enabling authorisation for issuance of FCCBs worth $600 million, its subsidiary bagging large shares in the FDRE project from SJVN,

At around 1:34 pm, the stock was trading 1.63% lower at ₹40.43 per equity share.

The scrip has gained a little more than 2% over the last five days, but lost nearly 13% over the month. It has fallen above 5% in the past six months. On a year-to-date basis, it slipped approximately 10%.

Reliance Power Q2 results

The Reliance Group company posted a consolidated net profit of ₹87.32 crore for the September quarter of FY26, compared to a loss of ₹352 crore it logged in the corresponding period of the previous fiscal year, it said in a media statement on Monday.

The electric power generation firm witnessed a 12.17% YoY surge in its consolidated revenue from operations to ₹1,974.03 crore during the quarter under review.

In the second quarter of the 2024-25 fiscal year (Q2FY25), it had clocked a revenue of ₹1,759.81 crore.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹618 crore in Q2FY26, marking a 64% annual increase from ₹376 crore in the year-ago period.

Reliance Power said that its debt-to-equity ratio, which was at 0.87, was among the lowest in the industry, adding that its debt servicing of ₹634 crore in the September FY26 quarter reflected “continued commitment to debt reduction”.

Its networth, during the reporting quarter, stood at ₹16,516 crore, the Mumbai-based company added.

Board approves fundraising $600 million via FCCBs

Reliance Power’s board also approved seeking enabling authorisation from its members for the issuance of foreign currency convertible bonds (FCCB) up to $600 million to fund growth.

The issue will be an international offering on a private placement basis, “or any other mode or manner as may be decided by the Board, subject to requisite permissions, sanctions and approvals and as per the applicable provisions of statutes.”

It further added that the details and terms of issue of the FCCB will be determined by the board in accordance with shareholder approvals at an appropriate time.

Furthermore, its board approved the grant of stock options under the ESOP scheme.

The stock options cover a total of 99,92,103 fully paid-up equity shares with a face value of ₹10 each.

Reliance Power's renewable energy arm secures largest share in FDRE project from SJVN

Reliance NU Energies, a wholly-owned subsidiary of Reliance Power, secured a 750 megawatt (MW)/3,000 megawatt-hour (MWh) firm and dispatchable renewable energy project from SJVN, as per a regulatory filing dated November 11.

Reliance Power said the project is part of SJVN Ltd's 1500 MW / 6000 MWh Firm and Dispatchable Renewable Energy (FDRE) ISTS tender.

“Reliance NU Energies secured a capacity of 750 MW / 3,000 MWh, representing the largest single share of allocation under the tender,” it added.

The renewable energy subsidiary secured this capacity at a competitive tariff of ₹6.74 per kilowatt-hour (kWh).

An FDRE project integrates advanced solar, wind, and battery energy storage systems (BESS) to enable reliable energy dispatch during peak demand.

A 750 MW/3000 MW energy storage system means 750 MW of battery energy can provide power backup for 2 hours, giving a total output of 3000 MW.

The project will supply dispatchable renewable peaking power to DISCOMs from a hybrid configuration comprising nearly 900 MWp of solar generation coupled with over 3,000 MWh of BESS capacity.

Reliance Group now has a cumulative portfolio exceeding 4 GWp of solar and 6.5 GWh of BESS (battery energy storage system) across four tenders, under development and implementation.