Category: Power

The average increase of 30 to 35 paise per unit of power consumed with respect to BESCOM allowed by Karnataka Electricity Regulatory Commission (KERC) would cast a heavy burden to all categories of consumers, said Sudhakar S Shetty, President of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI). Reacting to the power price […]

Ministers holding the portfolio of Petroleum and Natural Gas and Power and New and Renewable Energy have returned with the same portfolio in the Modi 2.0 government. But the Coal and Mines Ministry has a new face in Pralhad Venkatesh Joshi. Petroleum and Natural Gas Minister, Dharmendra Pradhan, who has got the additional charge of […]

he National Company Law Tribunal (NCLT) has rejected ₹1,200-crore offer by former promoters of Essar Power Jharkhand Ltd (EPJL) for one-time settlement with the lenders and take the debt-ridden company out of insolvency proceedings. After the Committee of Creditors (CoC) of EPJL, in which ICICI Bank has over 90 per cent voting rights, declined the […]

The Karnataka Electricity Regulatory Commission (KERC) has effected a hike in power tariff for industrial and commercial consumers in the State. KERC Chairman Shambhu Dayal Meena announced the new tariff structure on Thursday and said the penal charges of Rs. 1 per unit would continue for consumption during peak hours (6 am to 10 am; […]

Homegrown auto major Mahindra & Mahindra’s electric vehicle (EV) sales grew over two-and-a-half times to 10,276 units in 2018-19, riding on the second phase of orders for electric cars from state-owned EESL. The company, which sells a range of electric vehicles such as sedan e-Verito, van e-Supro, compact car e2o and three-wheeler Treo, had sold […]

Shares of Adani Power Ltd rose 6.3 per cent to ₹51.40, highest since April 25. The company on Wednesday posted a consolidated net profit of ₹635 crore ($90.99 mln), compared with a loss of ₹653 crore a year ago. The company benefited from a tax gain of about ₹741 crore. At 11.45 am, the stock […]

A three times increase in the cost of insuring power projects has irked thermal power generation companies. The higher cost of insurance is being attributed to a February circular by the General Insurance Corporation of India (GIC). In a letter written last week to the Ministry of Power, the Association of Power Producers (APP) said, […]

Tata Power said on Thursday that its arm, Tata Power Renewable Energy Ltd, (TPREL) will develop a 100-MW solar power project in Raghanesda Solar Park of Gujarat. “TPREL has received a letter of award (LoA) from Gujarat Urja Vikas Nigam Ltd (GUVNL) on 28th May 2019 to develop a 100-MW solar project in Raghanesda Solar […]

Adani Enterprises Limited (AEL) on Wednesday registered a standalone net profit of ₹331 crore for the quarter ended March 2019. Last year in the corresponding quarter, the company had posted standalone net profit of ₹61 crore. The company’s total income for the quarter stood at ₹5,369 crore, up from ₹3,048 crore reported in the same […]

Adani Power clocked a 94 per cent increase in revenues when compared to Rs 4,161 crore it posted in the same period last year Buoyed by higher revenues and improved realisations, Adani Power has reported net profit of Rs 634.64 crore in the quarter ended on March 31 against a net loss of Rs 653.25 […]

Power Finance Corporation posted a net profit of Rs. 2,117.56 crore for the fourth quarter ended March 31, 2019. This represents a 165.96 per cent increase over the net profit of Rs. 796.35 crore recorded in the same quarter of the previous financial year. Total income during the quarter under review rose to Rs. 7,702.64 […]

GMR Infrastructure suffered ₹2,341.25 crore loss on consolidated basis during the quarter ended March 31, owing to impairment losses of some of the power assets, the infra major said in a filing with bourses on Thursday. The company reported ₹4.81 crore profit after tax during the same quarter in FY18. Consolidated total income stood at […]