Latest News | Orient Green Company Reports Rs 20.64 Cr Loss in Q3

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.

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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.

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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".

(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)