Orient Green Power's net profit in the second quarter doubles to Rs 75 crore
Regarding performance, we had strong wind availability throughout the quarter, and our operational revenues increased by 8% and 13%, respectively, for the half year and quarter.
Due to increased revenue, Orient Green Power Company said on Wednesday that its consolidated net profit for the second quarter ended September 30 increased by more than double to Rs 75 crore. According to a regulatory statement by the firm, its net profit for the July–September quarter of the previous fiscal year was Rs 33.80 crore.
The company's overall revenue increased from Rs 108.24 crore in the same period last year to Rs 124.10 crore. In comparison to Rs 68.44 crore a year earlier, its costs for the quarter under review came to Rs 62.36 crore. The Board has also authorized funding up to Rs 225 crore via the issuing of equity shares of the firm to qualifying equity shareholders on a rights basis (a "rights issue"), with a face value of Rs 10. This process is contingent upon obtaining certain regulatory clearances. "At the outset, we acknowledge our gratitude to our shareholders for their widespread backing in fully subscribing to the permission issue," said T Shivaraman, Managing Director and CEO. Regarding performance, we had strong wind availability throughout the quarter, and our operational revenues increased by 8% and 13%, respectively, for the half year and quarter.
"At the outset, we acknowledge our gratitude to our shareholders for their strong backing in fully subscribing to the permission issue," said T Shivaraman, Managing Director and CEO. Regarding performance, we had strong wind availability throughout the quarter, and our operational revenues increased by 8% and 13%, respectively, for the half year and quarter. The managing director said that in order to reach the desired installed capacity of 1GW, the board had adopted a capacity development plan in which our business will experiment with solar energy as well as a hybrid model that combines solar and wind power.
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