Reliance Power reported a consolidated net profit of Rs 2,878.15 crore for the July-September quarter of this financial year, according to PTI. This marks a significant improvement from the Rs 237.76 crore net loss it recorded in the same quarter last year, ending 30 September 2023. The company’s latest quarterly performance reflects a notable turnaround, primarily driven by the financial impact of subsidiary deconsolidation.

As per PTI, Reliance Power disclosed in a regulatory filing on Tuesday that it realised a substantial gain of Rs 3,230.42 crore following the deconsolidation of one of its subsidiaries. Deconsolidation typically means that the assets, liabilities, and equity of a subsidiary are no longer part of the parent company's consolidated financials, impacting the company’s overall financial standing.