Orient Green Power

Orient Green Power Q1 results: Net profit jumps over 40% to Rs 13 cr

Orient Green Power Company on Wednesday posted over 40 per cent rise in its consolidated net profit to Rs 13.05 crore in the June 2024 quarter. The company reported a consolidated net profit of Rs 9.29 crore in the quarter ended on June 30, a BSE filing showed. Its total income rose to Rs 68.39 crore in the quarter from Rs 67.82 crore a year ago. Orient Green Power Managing Director and CEO T Shivaraman, in a statement, said the current quarter is a moderate one in terms of generation. The delayed onset of wind at certain locations resulted in a marginal year-on-year reduction in revenues during the quarter. However, he further stated that this is expected to be made up in the upcoming quarters. The approval of One Time Settlement (OTS) from the NCLT, Mumbai during the quarter contributed to the profits from discontinued operations, Shivaraman said. "We have received the approvals for raising capital of about Rs 250 crore through a rights issue, and the issue is expected to open

Orient Green Power plans to raise up to Rs 250 crore via rights issue

Orient Green Power Company plans to raise up to Rs 250 crore through issue of equity rights to its existing shareholders. The issue of equity shares with face value of Rs 10 each of the Orient Green Power Company is proposed for an aggregate amount not exceeding Rs 25,000 lakh (Rs 250 crore) on a rights basis to the existing equity shareholders of the company, a BSE filing on Saturday showed. The company has not disclosed the rights issue ratio, price of each share and the record date, said Sumedha Fiscal Services Ltd and Saffron Capital Advisors Pvt Ltd, the lead managers to the issue, citing the draft letter of offer (DLOF) dated May 17, 2024. Under the rights issue, a company invites its shareholders to buy additional shares at a discount. Shareholders get rights to purchase shares at lower than the market rate, helping the company raise funds without bringing in new investors. The company, an independent power producer that uses renewable sources like wind energy, has sought ..

Orient Green Power Q2 results: Net profit grows two-fold to Rs 75 cr

Orient Green Power Company on Wednesday reported an over two-fold jump in its consolidated net profit to Rs 75 crore during the second quarter ended September 30 on the back of higher income. It had clocked Rs 33.80 crore net profit during the July-September period of the preceding fiscal, the company said in a regulatory filing. The company's total income surged to Rs 124.10 crore from Rs 108.24 crore in the year-ago quarter. Its expenses stood at Rs 62.36 crore in the quarter under review against Rs 68.44 crore a year ago. The board has also approved fundraising up to Rs 225 crore by way of an issuance of equity shares of face value of Rs 10 each of the company to its eligible equity shareholders on a rights basis ("Rights issue"), subject to receipt of necessary approvals from regulatory authorities. T Shivaraman, Managing Director and CEO, said: "At the outset, we extend our gratitude to our shareholders for their overwhelming support in subscribing fully to the rights issue.

Orient Green Power Company's net profit rises 6% to Rs 9.29 cr in Q1

Orient Green Power Company on Friday posted a 6 per cent rise in its consolidated net profit to Rs 9.29 crore in the June quarter. The company had reported a consolidated net profit of Rs 8.76 crore in the quarter ended on June 30, 2022, according to a statement. Total income of the company increased to Rs 79.28 crore in the quarter from Rs 78.19 crore in the same period a year ago. "Further to the refinancing of over Rs 703 crore during March 2023, the company refinanced secured loans over Rs 78 crore during the year at reduced interest rates. The interest/charges on pre-closure charges of these loans amounted to Rs 386 lakh classified under exceptional items," T Shivaraman, Managing Director & CEO, said in the statement. The company also said that a board committee has approved the letter of offer of the rights issue which will open by August 28, 2023, Shivaraman said.

Orient Green Power dec quarter net profit rises 55% to nearly Rs 10 crore

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

Orient Green's Q3 loss narrows to Rs 70 cr

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

Orient Green Power net loss narrows to Rs 22.64 crore

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 loss narrows to Rs 23 cr in Apr-Jun qtr

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.