Electric Utilities company Orient Green Power Company announced Q1FY25 results: Revenue from Operations: Rs 6,344 Lakh (previous quarter: Rs 6,722 Lakh) Other Income: Rs 495 Lakh (previous quarter: Rs 60 Lakh) Total Income: Rs 6,839 Lakh (previous quarter: Rs 6,782 Lakh) EBITDA: Rs 4,577 Lakh (previous quarter: Rs 4,719 Lakh) EBITDA Margin: 67% (previous quarter: 70%) EBIT: Rs 2,508 Lakh (previous quarter: Rs 2,667 Lakh) EBIT Margin: 37% (previous quarter: 39%) Profit Before Tax (PBT): Rs 612 Lakh (previous quarter: Rs 929 Lakh) PBT from Discontinued Operations: Rs 705 Lakh Consolidated PBT: Rs 1,317 Lakh (previous quarter: Rs 929 Lakh) Total Comprehensive Income: Rs 1,266 Lakh (previous quarter: Rs 897 Lakh) Commenting on the performance, Mr.T Shivaraman, Managing Director & CEO, said: “The current quarter is a moderate one in terms of generation. The delayed onset of wind at certain locations resulted in a marginal reduction in our revenues during the quarter as compared to the corresponding previous quarter. However, this is expected to be made up in the upcoming quarters. Without considering the exceptional items, the QoQ Profit before tax improved by 8%. The approval of One Time Settlement (OTS) from the NCLT, Mumbai during the quarter contributed to the profits from discontinued operations. Further, We have received the approvals for raising capital of about Rs 250 crore through a rights issue and the issue is expected to open by 27th of this month, through which we propose to venture into solar energy generation. With the foray into solar energy, improved credit ratings and strong customer base, we expect to create sustainable growth and deliver returns.” Result PDF
Electric Utilities company Orient Green Power Company announced Q4FY24 & FY24 results: Revenue from operations: Rs 27,098 Lakh Total Income : Rs 28,068 Lakh EBITDA %: 70% PBT: Rs 3,867 Lakh Commenting on the performance, T Shivaraman, Managing Director & CEO, said: “ The current fiscal is a moderate one in terms of wind availability witnessing a marginal increase in turnover. We have initiated component upgradation in certain identified windmills during the year and this exercise is expected to be completed in the next fiscal, which is expected to improve the generation in the years to come. The EBIDTA for the year is maintained at the same level for the year. However, the operating EBITDA and PBT improved by 9% and 16% for the year. Our improved credit rating and refinancing enabled us to cut the interest cost by ~25%. we have also created a Debt Service Reserve Account (DSRA) of ~Rs 69 crore which strengthens our liquidity position. Further, we are in the process of coming out with a rights issue of about Rs. 250crore 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”. Result PDF