Orient Green Power

Orient Green Power Company Ltd (OGPL) on Monday posted a 55 per cent rise in its consolidated net profit at Rs 9.74 crore in the quarter ended December 2022. The company's consolidated net profit stood at Rs 6.28 crore in the year-ago period, according to a regulatory filing. However, total income was at Rs 57.33 crore during the October-December quarter, as against Rs 63.30 crore a year ago. Total expenses were Rs 65.78 crore during the quarter under review as compared to Rs 75.68 crore in the corresponding period of the previous year. "Our efforts to reduce the expenses and service the debt on time resulted in improved rating of our SPVs (special purpose vehicles) and reduction in finance costs," T Shivaraman, company's Managing Director and CEO, said in a statement. In addition, the Late Payment Surcharge (LPS) scheme introduced by the ministry of power helped in realising the long pending dues from state-owned discoms, he noted. With improving cash flows, "we are exploring th

Year-ago loss was Rs 102 cr; firm to use proceeds from sale of unviable units to pare debt

The net loss of Orient Green Power Company for the quarter ended June falls to Rs 22.64 crore, compared with a net loss of Rs 53.8 crore during the corresponding quarter of the previous financial year.

Orient Green Power's consolidated loss narrowed to Rs 22.7 crore in the first quarter ended June, compared to nearly Rs 54 crore in the year-ago period.