Orient Green Reports Rs 20.64 Cr Loss in Q3

Feb 14, 2024 18:08

Orient Green Power Company Limited (OGPL) reported a consolidated net loss of Rs 20.64 crore in Q3 FY24, compared to a profit of Rs 9.74 crore in the same period last year. The company's total income also declined.

New Delhi, Feb 14 (PTI) Orient Green Power Company Limited (OGPL) on Wednesday reported a consolidated net loss of Rs 20.64 during the quarter ended December 2023.

It had posted a net profit of Rs 9.74 crore in the October-December period of the preceding 2022-23 financial year, the company said in an exchange filing.

Its total income was trimmed to Rs 38.18 crore from Rs 57.33 crore a year ago.

Expenses stood at Rs 60.76 crore against Rs 65.78 crore in the third quarter of the last fiscal.

In a separate statement, its CMD T Shivaraman said, "Our board approved a rights issue for about Rs. 250 crore predominantly for venturing into solar business and debt reduction. The reduced finance cost and a conducive regulatory environment promoting green energy bode well for the future".

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Orient Green Reports Rs 20.64 Cr Loss in Q3

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