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Orient Green Power loss narrows to Rs 85.98 cr in Mar qtr

Press Trust of India  |  New Delhi 

Orient Green Power Company's consolidated loss narrowed to Rs 85.98 crore in the quarter ended March 31, 2017.

The company's consolidated loss was Rs 158.38 crore in the same quarter a year ago, Orient Green Power Company Ltd stated in a filing today.

According to the statement, the company's total from operation was Rs 58.28 crore in the quarter under review compared to Rs 44.72 crore in the same period of 2016.

The company's consolidated loss in 2016-17 was Rs 95.90 crore down from Rs 340.14 crore in the previous fiscal.

Its total from operation in the fiscal 2017 was Rs 385.42 crore up from Rs 308.02 crore in 2015-16.

It said that the group operates under a single segment which is generation of power through renewable sources.

It said that the company and its subsidiaries have been facing financial difficulties and have not been able to meet their obligations to lenders in time.

The management is in discussion with the lenders to restructure the loans and revamp its operations, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 17 2017. 20:28 IST