Sembcorp invests ₹521 crore in Indian renewable business

MUMBAI: Sembcorp Industries, the Singapore-based energy and urban development company, has made an equity infusion of ₹521 crore (S$101.6 million) into its Indian arm, Sembcorp Energy India Ltd. The funds will be used to expand its renewable energy portfolio in India, a senior company official said.

Earlier this week, Sembcorp Industries reported its half-yearly earnings for January-June 2019 with net profit at S$191 million, up from S$159 million in 1H2018, on improved performance from the energy business.

Profitability in India continued to improve with net profit growing by 46% from the year-ago period to S$35 million ( ₹179.56 crore).