Reliance Energy Q2 Results

Reliance Energy’s net profit jumped 34.17% to Rs 250.08 crore on 13.65% rise in total Income to Rs 1799.92 crore in Q2 September 2007 over Q2 September 2006.

At the current price of Rs 1723.70, the scrip trades at a PE multiple of 44.45, based on Q1 June 2007 annualised EPS of Rs 38.77.

The scrip outperformed the market by a huge margin in one month to 16 October 2007, soaring 109.78% as against the Sensex’s 22.88% gain. It had also outperformed the market in the past three months, surging 176.50% against the Sensex’s 24.51% rise.

Reliance Energy is planning to come out with Reliance Power IPO to fund Ultramega Power projects in India.