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OGPL loss narrows to Rs 6.11 cr in March quarter

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Press Trust of India New Delhi
Orient Green Power Company Ltd's (OGPL) consolidated net loss narrowed to Rs 6.11 crore in the quarter ended March 31 as compared with a loss of Rs 59.47 crore a year ago, mainly due to higher revenues.
The company's total income in the fourth quarter of this financial year rose to Rs 88.01 crore, from Rs 44.18 crore in the year-ago period, the company said in a statement.
Its consolidated loss also narrowed to Rs 33.18 crore in 2018-19 from Rs 37.15 crore a year ago.
During the financial year ended March, the firm's total income was down at Rs 370.80 crore as compared with Rs 398.64 crore in 2017-18.
The company said that overall, this has been a subdued year for wind power generation with a shortfall of 640 lakh units, leading to a reduction in operational turnover of Rs 33.69 crore.
OGPL Managing Director S Venkatachalam said in the statement, "The financial year 2018-19 has been a year of consolidation for OGPL; a year wherein we have made steady progress towards consolidating our position in the wind energy generation business following hiving off of the biomass business... we have also made significant in-roads towards rationalizing our debt."

He said the company expects further reduction in its interest outgo following completion of the ongoing discussions with lenders.

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First Published: Apr 30 2019 | 4:30 PM IST

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