Category: Power

Steady financial performance notwithstanding, shares of Power Grid Corp. of India Ltd trailed behind broader markets by a big margin. The stock lost about 9% in the past year in contrast to the 5% rise in the Nifty 500 index. The company reported a 52% jump in profit and revenue gained 18% for the March […]

Hyderabad/New Delhi: GMR Infrastructure suffered a loss of ₹2,341.25 crore on a consolidated basis in the March 2019 quarter, owing to impairment losses of some of the power assets, the airport-to-energy conglomerate said in a filing with bourses on Thursday. The infra major had reported a profit after tax of ₹4.81 crore during the corresponding […]

Global energy major Royal Dutch Shell and Norway’s state utility Statkraft have joined the race to buy Morgan Stanley Infrastructure Partners-owned wind energy platform Continuum Wind Energy, two people aware of the development said. Earlier this month, Mint reported that CLP India is in talks to acquire the wind energy platform. Morgan Stanley Infrastructure Partners, […]

Adani Power, which houses the Gautam Adani group’s thermal and renewable energy generation, reported net profit of ₹635 crore for the March quarter, as opposed to the loss of ₹653 crore that it reported in the previous year. For FY19, net loss stood at ₹984.4 crore, much lower than the ₹2,073.77 crore it reported in […]

Adani Power Wednesday reported consolidated net profit of ₹634.64 crore for the fourth quarter ended March 31, mainly on the back of higher revenues. It had posted a consolidated net loss of ₹653.25 crore in the same period previous fiscal, the company said in a BSE filing. According to the filing, total income of the […]

Power Finance Corp. Ltd (PFC), the largest financier for the domestic power sector in India, is increasing its borrowings from the international market in 2019-20 to tide over a liquidity crunch in the country. Out of PFC’s fund-raising target of ₹80,000 crore for the current fiscal year, it will raise 10% in foreign current borrowings […]

New Delhi: State-run Power Grid Corporation on Wednesday reported about 52% jump in standalone net profit at ₹3,053.56 crore in March quarter, mainly on the back of higher revenues. The company’s standalone net profit was at ₹2,010.31 crore in the quarter ended 31 March 2018, a BSE filing said. Total standalone income of the company […]

Ola Electric Mobility Private Limited announced that it has appointed former CEO of Vodafone Group Plc Arun Sarin as an independent director on its board. Sarin, who has also invested in Ola (first in 2015) and in Ola Electric in its series-A funding earlier this year, will be a mentor and advisor to the latter […]

Mumbai: Sachin Bansal, co-founder of e-commerce platform Flipkart, Tuesday announced investment of $32 million in electric vehicle manufacturer Ather Energy, which has raised $51 million in its latest round of funding. Ather Energy was one of the earliest startup investments of Bansal, when he invested $0.5 million in the firm as an angel investor in […]

Mumbai: Electric scooter maker Ather Energy Pvt. Ltd said on Tuesday that it has raised $51 million in its latest investment round, led by existing investor Sachin Bansal who chipped in with $32 million ( ₹220 crore). The Flipkart co-founder has been on Ather Energy’s board since 2014 when he made an angel investment of […]

New Delhi: Ather Energy, an electric scooter manufacturing startup, on Monday raised funds to the tune of $51 million, which would be used for setting up a new manufacturing capacity, research and development for a range of upcoming products and setting up of charging stations. Former Flipkart founder Sachin Bansal made an investment of $32 […]

Bharat Heavy Electricals Ltd’s (Bhel’s) focus on cost control and diversification into the industry segment is translating into better financial performance. While the firm reported a marginal increase in revenue of just 0.8% in the fourth quarter ended 31 March, net profit jumped 49% to ₹682.7 crore. The company brought down its other expenses by […]