New Delhi, Oct 20 (PTI) Gujarat Industries Power Company Limited (GIPCL) on Thursday said its standalone net profit halved to Rs 26.63 crore during the quarter ended September 30, mainly on account of reduced income.

It had clocked a net profit of Rs 53.36 crore in the July-September period of 2021-22 fiscal, the company said in a BSE filing.

Also Read | IDBI Bank Privatisation: LIC To Recover Its Investment by Time of Sale.

Its total income reduced to Rs 265.79 crore from Rs 326.69 crore a year ago.

Gujarat-based GIPCL has a diversified portfolio of thermal (gas and lignite), wind and solar power plant assets in the state.

Also Read | Tata Consumer Products Q2 Profit Rises 36% to Rs 389 Crore; Revenue Up 11% to Rs 3,363 Crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)