Facts about Rel Power net profit

Thebullishtrends: Reliance Power share price closed today at Rs.402.30(-Rs.0.95) Reliance Power have shown Rs.94.6 cr net profit for the year 2007-08, but actually this income has not came from the operations. Infact Reliance Power has invested these IPO funds Rs.11,412.81 cr in Mutual Funds. So far Reliance Power has spent only Rs.25.83 cr for the construction and development of Power projects. As per the company financials, Reliance Power has received total income of Rs.132.8 cr in which Rs.112.7 cr received as dividend. It is better for Investors who have got allotment in the IPO, to buy additional purchases to get the better average prices ahead of it's Record date, and fresh buying can be avoided in this scrip.