State-run Hindustan Petroleum Corporation (HPCL) reported a net profit of Rs 2,813.8 crore on a standalone basis for the three months ended June 30, recording a 246.9% rise from the same period a year ago. The oil refining and marketing company attributed the rise in profit to higher capacity utilisation of its refineries and higher […]
Day: August 7, 2020
Self-Help Groups to collect electricity bills in UP
In a bid to augment its billing efficiency and rev up its revenue, the Uttar Pradesh Power Corporation has signed an agreement with National Rural Livelihood Mission to enable Self-Help Groups (SHGs) to collect electricity bill payments from the citizens at their doorsteps. The SHGs will get Rs 20 for a bill up to Rs […]
JSW Energy has put on hold all discretionary capex: Prashant Jain, joint MD & CEO
JSW Energy has put on hold all its discretionary capital expenditure due to Covid-19 related uncertainties and lower power demand. The company, however, plans to double its generation capacity to 10 GW over the medium term focusing primarily on renewables, Prashant Jain, joint MD & CEO, JSW Energy, told Vikas Srivastava during an interview. Going […]
NTPC auction: Second lowest solar tariff of Rs 2.43/unit discovered
The latest reverse auction for 1,170 mega-watt (MW) of solar capacity, conducted by state-run NTPC, has discovered a tariff of Rs 2.43 per unit. This is the second lowest tariff for solar power till date and comes on the heels of the record low bid of Rs 2.36/unit received in the auction for 2,000 MW […]
Oil prices slip on uncertainty over US recovery, stimulus
MELBOURNE: Oil prices slipped on Friday, adding to losses in the previous session, on worries that fuel demand growth will drop amid a resurgence of coronavirus cases and as talks have stalled in the United States on a new stimulus deal. U.S. West Texas Intermediate (WTI) crude futures slipped 2 cents to $41.93 a barrel […]
Adani Power Q1 results: Loss widens to Rs 682.46 crore
Adani Power on Thursday said its consolidated net loss widened to Rs 682.46 crore in the June quarter, mainly due to lower revenues on account of low power demand during the lockdown. The company had posted a net loss of Rs 263.39 crore for the same period last year. The total income of the company […]
40 coal mining personnel found +ve
As many as 40 mining personnel of an outsourced mining company working for Bharat Coking Coal Limited (BCCL) were found Corona positive according to a medical report issued by the health department late Wednesday night. Most of the workers of Indu outsourced mining company operating at Monodih project area of BCCL were found positive. This […]
UJVNL powerhouses achieve record generation amid Covid
The month of July has been an important month for UJVNL in view of power generation. UJVN Limited’s Maneri Bhali-II and Mohammadpur powerhouses achieved record monthly generation in July this year. Apart from this, UJVNL also surpassed its generation target for July. The UJVN Limited managing director Sandeep Singhal said that amid the Covid-19 pandemic, […]
Malaysia’s ex-finance minister charged over tunnel project
Malaysia’s former finance minister Lim Guan Eng was charged on Friday with corruption over a 1.5 billion undersea tunnel project, with his party slamming the move as political persecution by the new government. Lim, who was part of a reformist government ousted in a political coup in March, pleaded not guilty to a charge of […]
NHAI signs MoU with IIT-D for use of AI
The National Highways Authority of India (NHAI) under the Ministry of Road Transport and Highways on Thursday signed a MoU with the Indian Institute of Technology (IIT) Delhi to set up a Centre of Excellence (CoE) for use of Artificial Intelligence (AI) in data driven decision making and advance data management system for Highways. Under […]
Retiring old thermal power first hurdle in reducing discom debt of well over Rs 4.78-lakh crore
MANGALURU: The Institute for Energy Economics and Financial Analysis (IEEFA) in its new report has proposed recommendations to reduce financial and operational inefficiencies across India’s power distribution sector, which as of May 2020 had accumulated massive overdue payment liabilities of Rs 116,340 crore ($16 billion) to generation companies while already carrying a total outstanding debt […]
Air India official who faced fake sexual harassment case suspended
THIRUVANANTHAPURAM: Air India official against whom the gold smuggling case accused Swapna Suresh had fabricated a false sexual harassment case, has been suspended from service by the airline. The suspension has been ordered citing the reason that this officer “had addressed the media on matters related to the company which is in violation of the […]