Gautam Adani-led Adani Power on Wednesday reported a 47.8 per cent decline in consolidated net profit to Rs 2,737 crore for the quarter ended March 2024 (Q4FY24). The power company had reported a net profit of Rs 5,242 crore in the year-ago period (Q4FY23), according to its stock exchange filing. At Rs 2,737 crore, the […]
Category: Power
Power
Microsoft to power data centres with Brookfield renewables deal: Report
Canada’s Brookfield Asset Management is set to develop new wind and solar farms with backing from tech giant Microsoft in an attempt to bring 10.5 gigawatts of generating capacity online, the Financial Times reported on Wednesday. Microsoft expects its partnership with Brookfield to help finance the creation of renewable electricity projects to be built between […]
Microsoft, Brookfield to partner to develop new wind, solar farms
Canada’s Brookfield Asset Management and technology giant Microsoft will develop new wind and solar farms in an attempt to bring over 10.5 gigawatts of new renewable energy capacity, the companies said on Wednesday. The agreement provides a pathway for Brookfield to deliver the new renewable energy capacity between 2026 and 2030 in the U.S. and […]
Power consumption increases by 11% to 144.25 billion units in April
India’s power consumption rose around 11 per cent to 144.25 billion units (BU) in April as compared to the year-ago period, mainly due increase in temperatures. In April 2023, the power consumption stood at 130.08 BU, a government data showed. The highest supply in a day (peak power demand) also rose to 224.18 GW in […]
Dry cell battery maker Eveready Industries defers new category entry
Dry cell battery maker, Eveready Industries India, has pushed the goalpost for entering a new category by a year. Led by the Burman family of Dabur India, Eveready had planned to enter a new category by FY26, what would have been its fourth after battery, flashlight and lighting. However, its challenges with a revamped route-to-market […]
Exide Q4 results: Net profit up 2.56% at Rs 184.74 cr, revenue rises 13.49%
Storage battery maker, Exide Industries, on Tuesday recorded a 2.56 per cent year-on-year (Y-o-Y) increase in net profit on a consolidated basis in Q4 FY24 on the back of a 13.49 per cent increase in revenue. Consolidated net profit stood at Rs 184.74 crore in Q4 FY24 compared to Rs 180.12 crore a year back. […]
Musk fires Tesla EV charging team, blindsiding automobile manufacturers
Elon Musk’s abrupt decision to lay off employees who ran Tesla’s electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Supercharger network, industry officials and analysts said on Tuesday. For now, General Motors, Ford and other automakers which struck deals last year to give customers access […]
Adani Energy Solutions’ Q4 result: Net profit declines 13% to Rs 381 cr
Adani Energy Solutions Ltd (AESL) on Tuesday posted a 13.26 per cent fall in its consolidated net profit to Rs 381.29 crore during the quarter ended March 2024 on account of increased expenses. Its net profit after tax was at Rs 439.60 crore in the January-March period of the preceding 2022-23 financial year, the company […]
IndiGrid Investment Managers settles InvIT rule violation case with Sebi
IndiGrid Investment Managers Ltd has settled a probe by markets regulator Sebi in a case pertaining to the alleged violation of infrastructure investment trust (InvIT) rules after paying Rs 23.4 lakh towards settlement charges. The case related to IndiGrid Investment Managers allegedly using funds mobilised through borrowings for purposes other than the acquisition or development […]
Sterlite Power bags Rs 2500 cr worth orders in Q4; FY24 wins surge 35% YoY
Sterlite Power on Tuesday announced securing new orders worth Rs 2,500 crore during the quarter ended March 31. This takes the company’s cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement. “Sterlite Power has capped off a successful fiscal year FY24 […]
REC logs highest annual profit of Rs 14K crore on lower stressed assets
REC Ltd, which is one of the leading non-banking financial companies (NBFC) in the energy sector, has registered its highest ever annual profit during the financial year 2023-24, owing to a reduction in stressed assets and diversification into newer business areas. During the financial year 2023-24, REC clocked a net profit of Rs 14,019 crore […]
REC Ltd net profit grows 33% to Rs 4,079 crore in March quarter
State-owned REC Ltd on Tuesday posted a 33 per cent rise in its consolidated net profit to Rs 4,079.09 crore during the March quarter on account of higher income. The company had clocked a net profit of Rs 3,065.37 crore during the January-March quarter preceding FY 2022-23, REC said in a regulatory filing. The company’s […]