Orient Green Power net loss narrows to Rs 22.64 crore

Total income from operations grew 16.6% to Rs 126.3 crore, compared with Rs 108.3 crore a year ago

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.

The total income from operations grew 16.6 per cent to Rs 126.3 crore, compared with Rs 108.3 crore a year ago.

The company, an operator and developer of renewable energy, is planning to acquire 26 per cent equity shares of its two subsidiaries from group captive shareholders to make it wholly-owned subsidiary.

The company, in a regulatory filing said on Thursday that its board of directors has approved to acquire 26 per cent equity shares of Shriram Powergen and Shriram Non-Conventional Energy, from the group captive customers. After the acquisition, these two companies will become wholly-owned subsidiaries of the company.