Essar Power H1 net loss narrows to Rs 14.48 cr

Essar Power today reported narrowing of its net loss to Rs 14.48 crore in the first half of this fiscal.
The company had reported a standalone net loss of Rs 38.13 crore in the same period last fiscal, Essar Power said in a BSE filing.
According to the statement, the company's income from operation came down to Rs 3.09 crore in the first half of the current fiscal as against Rs 93.15 crore in the year-ago period.
The company said that it is "confident of realising dues recorded in accordance of power purchase agreement with Gujarat Urja Vikas Nigam Limited (GUVNL).

According to the company, the recoverability of trade receivable of Rs 1,074.57 crore from GUVNL as on March 31, is dependable resolution of the sub-judice matter in the Supreme Court.