Net profit of Virescent Renewable Energy Trust reported to Rs 21.08 crore in the quarter ended December 2022 as against net loss of Rs 12.72 crore during the previous quarter ended December 2021. Sales rose 58.58% to Rs 130.26 crore in the quarter ended December 2022 as against Rs 82.14 crore during the previous quarter ended December 2021. ParticularsQuarter EndedDec. 2022Dec. 2021% Var.Sales130.2682.14 59 OPM %80.7867.99 -PBDT72.0118.88 281 PBT22.43-16.07 LP NP21.08-12.72 LP

Source: PTI

However, the company did not provided consolidated net profit or loss figures for the corresponding quarter ended on December 31, 2021 in a regulatory filing.

It had reported a loss of Rs 18.87 crore in the quarter ended on September 30, 2022, the filing added.

Total income of the company was Rs 91.81 crore in the October-December quarter against Rs 65.87 crore in the September quarter.

Source: PTI

The company had clocked a PAT (profit after tax) of Rs 107.19 crore during October-December quarter of preceding 2021-22 fiscal, Indian Renewable Energy Development Agency (IREDA) said in a statement.

Its total income rose by 17 per cent to Rs 868.98 crore from Rs 743.30 crore in the year ago quarter.

IREDA’s net Non-Performing Assets (NPAs) reduced to 2.03 per cent in the third quarter of FY23 from 6.26 per cent in the same quarter a year ago.

The company disbursed loan worth Rs 6,341.81 crore as against Rs 1,484.84 crore a year ago, up by 327 per cent.

Its overall loan book stood at Rs 37,887.69 crore as against Rs 26,937.45 crore a year ago, up by 41 per cent.

Pradip Kumar Das, Chairman and Managing Director (CMD), IREDA, said, “We are happy to post historical financial results for the third quarter with more than three-fold growth in loan disbursement and a five-fold jump in loan sanction. Most impressively, IREDA’s net NPAs have reduced from 6.26 per cent in the third quarter of the previous fiscal year to 2.03 per cent in the third quarter of FY 23.

Source: PTI

Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter 2022-23 mainly on the back of higher expenses.

In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing.

Total expenses increased to Rs 8,078.31 crore in the quarter from Rs 5,389.24 crore. Total income rose to Rs 8,290.21 crore from Rs 5,593.58 crore in the same period a year ago.

During the quarter, the company and its subsidiaries achieved an average Plant Load Factor (PLF or capacity utilisation) of 42.1 per cent and power sale volume of 11.8 Billion Units (BU), as compared to PLF of 41 per cent and power sale volume of 10.6 BU in Q3 FY22.

Operating performance during the quarter under review was constrained mainly due to high prices of imported coal and insufficient domestic fuel availability due to high power demand.

“Adani Power Ltd has consistently demonstrated its superior skills in project execution, excellence in power plant operations, and capabilities in fuel and logistics management, which has helped it turn around stressed power assets acquired under schemes of corporate debt resolution, apart from setting various benchmarks in its greenfield power plants,” Anil Sardana, Managing Director, Adani Power said in a statement.

With resolution of most of its regulatory issues now, the company is well placed in terms of liquidity to meet its present commitments and growth requirements, he added.

Adani Power, with its strategically located and efficient power plants, is poised to gain maximum advantage from India’s growing power demand and provide stable, reliable and affordable power supply, while ensuring the betterment of communities around it, he opined.

The proposed Scheme for Amalgamation of Adani Power with six of its operating subsidiaries has received approval of its secured creditors. The amalgamation process is expected to be completed shortly, it stated.

Source: PTI

The consolidated net profit of the company was at Rs 49 crore in the year-ago period, according to a BSE filing on Tuesday.

Total income in the third quarter of the current fiscal rose to Rs 2,258 crore from Rs 1,471 crore in the same period a year ago.

The solar CUF (Capacity Utilisation Factor) and sale of energy improved with the integration of a high-quality SB Energy portfolio having a CUF of 26.0 per cent in the April-December 2022 period, consistent high plant availability, improved grid availability and improved solar irradiation.

The sale of energy from the wind portfolio has increased significantly backed by strong capacity addition. However, the wind CUF has reduced primarily due to a one-off disruption in the transmission line (force majeure) for a 150 MW plant in Gujarat, which is now fully restored.

“We are making steady progress in our endeavour to lead the way towards large-scale adoption of affordable clean energy in India and we are on track to achieve our long-term renewable capacity addition target,” Vneet S Jaain, MD & CEO of Adani Green Energy, said.

Adani Green Energy’s operating capacity is now set to increase to 8,300 MW, the largest in India, by the end of FY23, as per the filing.

The newly commissioned solar-wind hybrid plants of 1,440 MW deploy the latest technologies such as bi-facial PV modules and horizontal single-axis tracking technology to capture maximum energy from the sun as well as technologically advanced wind turbine generators leading to a high hybrid CUF.

The company, part of the Adani group, has an overall portfolio of 20.4 GW, including operating, under-construction and awarded projects catering to investment-grade counterparties.

Source: PTI

The Adani group company’s profit after tax rose 73 per cent on a yearly basis to Rs 478 crore during the December quarter. In the same quarter of 2021, the profits were Rs 277 crore.

Coming to consolidated revenue from operations, it increased about 16 per cent to Rs 3,037 crore versus Rs 2,623 crore reported same quarter of 2021. Its distribution revenue increased on account of a consistent uptick in energy demand.

“Adani Transmission is constantly evolving and is already a significant player in the transmission and distribution sector. ATL’s growth trajectory remains firm despite the challenging macroeconomic environment. Our pipeline of projects and recently operationalised assets will further strengthen our pan-India presence and consolidate our position as the largest private sector transmission and distribution company in India,” said Anil Sardana, MD of Adani Transmission.

“The journey towards a robust ESG framework and practising a culture of safety is integral to our pursuit of enhanced long-term value creation for all our stakeholders,” Sardana added.

Adani Transmission is a major private transmission company, with a presence across 13 states in India and a cumulative transmission network of 18,795 circuit kilometers (ckm).

Source: ANI

For more information please see below link:

Mumbai : Tata Power (NSE,BSE: TATAPOWER), one of India’s largest integrated power companies, which operates across the entire power value chain including Generation, Transmission & Distribution, Renewables and Trading, today released its consolidated results for Q3 FY23.

With significant growth across all its businesses, the company continues to solidify its position as the nation’s premier green energy and consumer-centric power utility. Tata Power’s PAT has risen for the 13th straight quarter and has witnessed significant rise in Consolidated Revenue and EBITDA demonstrating the effectiveness of its business strategy.

Q3 FY23 & YTD Q3 FY23 Performance Snapshots (in ₹ crore)

Consolidated Performance Highlights: Q3 FY23 (YoY)

• Consolidated PAT up by 91% at ₹ 1,052 crore vs ₹ 552 crore in Q3 FY22 on account of better performance across all businesses
• Consolidated EBITDA up by 53% at ₹ 2,818 crore vs ₹ 1,841 crore in Q3 FY22 on account of capacity addition in Renewables and better performance across all businesses
• Consolidated Revenue up by 30% at ₹ 14,339 crore vs ₹ 11,015 crore in Q3 FY22 on account of capacity addition in Renewables, higher generation in Thermal plants and higher sales in Distribution Companies

Consolidated Performance Highlights: YTD Q3 FY23 (YoY)

• Consolidated PAT up by 88% at ₹ 2,871 crore vs ₹ 1,523 crore in YTD Q3 FY22 on account of better performance across all businesses
• Consolidated EBITDA up by 17% at ₹ 6,968 crore vs ₹ 5,938 crore in YTD Q3 FY22 on account of capacity addition in Renewables and better performance across all businesses
• Consolidated Revenue up by 42% at ₹ 43,278 crore vs ₹ 30,491 crore in YTD Q3 FY22 on account of capacity addition in Renewables, higher generation in Thermal plants and higher sales across Distribution Companies

Highlighting the key aspects of the company’s Q3FY23 performance, Dr. Praveer Sinha, CEO & MD, Tata Power, said “We are pleased to report another quarter of strong financial results with PAT growing for the 13th consecutive quarter.

The stellar performance from all our business clusters – Generation, Transmission, Distribution, and Renewables has placed us in a very bright spot. The first three quarters of the current fiscal have ended on a strong note, delivering sequential revenue growth and profit.

The third quarter saw significant strides in various businesses associated with our Green Energy Platform and Transmission & Distribution (T&D) business. We have committed investments in Renewables and in Odisha Power Distribution and have further strengthened our position in Rooftop Solar and EV charging domains We look forward to another successful quarter and I am confident that we will continue to create greater value for all our stakeholders. In the year of India’s G20 Presidency, we are committed to contribute towards making the country’s power sector future ready through path-breaking work in green energy transition.”

Key Business Highlights Q3 FY23:

• Order pipeline of TPSSL, including third party projects, stands at 3.9 GW worth ₹ 15,440 crore
• TPREL received ‘Letter of Award’ from Tata Power Delhi Distribution Limited (TPDDL) to set up 255 MW
• Hybrid Project with a green shoe option for another 255 MW
• TPREL received ‘Letter of Award’ from MSEDCL to set up 150 MW solar project in Maharashtra
• TPREL Rooftop Solar (RTS) Business orderbook pipeline stands at ₹1,300+ crore
• Rooftop Solar Business increased channel network to more than 450 partners spread across 275 districts
• Tata Power Solar Systems Limited (TPSSL) launched off-grid solar solutions in West Bengal, Bihar, and Jharkhand. The off-grid solutions provide a combination of high-efficiency solar modules, inverters and batteries and are available in 11 variants ranging from 1 – 10 kW with 5year warranty
• TPREL signed an agreement to set up India’s first group captive solar plant for a large, premium housing society – Vivarea Condominium in Mumbai
• TPSSL installed around 12,000 solar pumps, highest ever execution in a single quarter. Reached a total deployment of more than 93,000 solar pumps; inching towards the 1 lac milestone
• Tata Power has energized 3,080+ public and captive EV charging points across 493 locations, along with 30,000+ home chargers and 234 bus charging points
• Tata Power announced setting up of 25,000 EV Charging Points by 2025 at Auto Expo 2023
• Tata Power partnered with the Indian Army to set up EV charging points in the Delhi Cantonment
• Total Smart Meter installations cross 5 lakh across Tata Power DISCOMS in Odisha, Delhi and Mumbai
• Tata Power bags LoA worth ₹350 crore for Development of Receiving Substation (RSS) work for BEST Mumbai
• Powerlinks implemented Drone based Image Analytics Portal for monitoring of transmission network
• Mumbai Distribution achieved national benchmark level operation parameters -Billing Efficiency (99.05%), Collection efficiency (>100%), AT&C Loss (0.47%), SAIDI (5.39 mins) and SAIFI (0.40).
• Mumbai Distribution granted patent for Network management application SPINe-Spatial Patrolling Interface for sustained reliability network and enhanced customer services
• Jojobera Thermal Power Station won Best Water Efficient Plant in <500 MW CPP category by Council of Enviro Excellence
• Prayagraj Power Generation Company Limited (PPGCL) received NABL accreditation
• Tata Power signed up for Japan’s MUFG’s Sustainable Trade Finance Facility to expand its clean and green energy portfolio
• Tata Power Trading and 75F Smart Innovations India joined hands to promote Automation and Energy-Efficiency Solutions for the Indian Commercial Buildings segment
• On 03rd Jan, CERC passed favorable order to compensate adverse financial impact to Tata Power’s Mundra Plant for power supplied under MoP directions and accordingly the Company has recognized revenue
• IEL Kalinganagar commissioned 67.5 MW Waste Heat Unit
• Mumbai Distribution to install India’s first-of-its-kind underground submersible
  substation in Mumbai
• Tata Power participated in ‘Invest Rajasthan’ summit; announced plans to develop up to 8,000 MW of utility scale projects, 1,000 MW of solar rooftop, and 1,50,000 solar pumps in the next five years in the state
• Tata Power participated in ‘Make in Odisha’ conclave; announced setting up 1,000 EV charging points and 1,00,000 solar pumps. Also committed ₹ 6,000 crore capex investment in the distribution business based on the license agreement
• Tata Power emerged top ranking power utility in the country by scoring 67 out of 100 in S&P Rating (85 percentile)
• Tata Power improved its CDP Climate Change rating from C in 2021 to B in 2022
• Tata Power covered 14.15 lakh beneficiaries in the quarter through community development initiatives
• 25 lakh+ community members directly benefited YTD through Tata Power’s flagship CSR programs under key thrust areas of Education, Employability and Employment and Entrepreneurship
• Trained 8.28 lakh individuals in digital literacy in 8 districts, under its Adhikaar program; over 6 lakh citizens have received welfare scheme benefits totaling up to ₹ 167 crore
• Tata Power organized Urja Mela in Delhi on the National Energy Conservation Day; more than 600 students from 8 states participated in a day-long event organized under the aegis of the Atal Innovation Mission
• Organised a national roundtable workshop as part of its CSR program ‘Pay Autention’ in association with IHCL on neurodiversity with a focus on autism spectrum disorder. The Ministry of Social Justice and Welfare, the Tata Group of Companies, Not-for-Profit organizations, and disability experts also
  participated in the workshop Tata Power hosted the first ever Act for Biodiversity conclave to bring together impact leaders from corporate India and the conservation domain to share perspectives on biodiversity preservation
• TPSSL signed an MoU with the District Skill Training Office, Tirunelveli, Tamil Nadu to enable local youth and women of the region, in association with the company’s 4 GW Cell and Module manufacturing plant in Gangaikondan
• Tata Power-DDL signed an MoU with the NTPC School of Business (NSB) to cater to the training and human resource development needs of power distribution personnel

Awards & Recognitions:

• Tata Power won Gold Shield award from ICAI for Excellence in Financial Reporting for 2021-22
• Tata Power won Joint Silver award from SAFA (South Asian Federation of Accountants) for best presented Annual Reports for 2020-21
• TPSSL received an award from NLC for the supply of 10 MW DCR modules.The power generated from these modules will be used to offset the auxiliary power consumption at NLC’s township in Neyvelli, Tamil Nadu
• TPREL received CII Performance Excellence Awards for 2022. Recognized for its “Excellence in Performance” under ‘Wind Category’ for 126 MW Pratapgarh and 44 MW Lahori Wind Farms
• TPSSL named the Solar Company of the Year for the state of Kerala by EQ
  International in the residential rooftop solar category
• TPRMG received a silver award in the CII 3M competition for Microgrids
• Jojobera Thermal Power Station adjudged 2nd Runners Up and 4.75 stars in 15th CII ENCON Awards under Energy Intensive Group
•  Jojobera Thermal Power Station won Platinum Award & Winner in 10th CII – IQ National Practice Competition under Manufacturing Sector – Practices Driving Innovation

About Tata Power:

Tata Power (NSE: TATAPOWER; BSE:500400) is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed
capacity of 14,101 MW. The Company has a presence across the entire power value chain – generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution and trading.

The Company had developed the country’s first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 5,241 MW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 37% of the overall portfolio, the company is a leader in clean energy generation.

It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlinks Transmission Ltd. with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand.

Tata Power is currently serving more than 12 million consumers via its Discoms, under publicprivate partnership model viz Tata Power Delhi Distribution Ltd. with Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with Government of Odisha.

With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions providers by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al.

With its 107 years track record of technology advancements, project execution excellence, worldclass safety processes, customer care and green initiatives, Tata Power is well poised for multi-fold
growth and is committed to lighting up lives for generations to come.

CHENNAI, India : Redington Limited (NSE: REDINGTON), today announced its financial results for Q3FY23, which ended on December 31, 2022. Another record quarter of sales and operating margin performance. At Rs. 21715 Crore overall global revenues have been the highest ever for any quarter growing by a strong 31% YoY and at Rs. 622 crores, it has registered highest ever operating profit with a 14% YoY.

Supported by solid execution across businesses and geographies, Redington continues to gain share and secure new opportunities in the markets they compete in. The company emphasized that this record performance is an outcome of continued investments in improving their technology capabilities, building deeper partner relationships, making breadth of offerings more comprehensive and innovations in business model.

Redington’s mission is to reduce Technology Friction – the expensive gap between speed of innovation and rate of adoption of tech. It leverages its core strengths of technology, innovations and partnerships to cater to technology demand for hybrid workplaces, digital transformation across verticals, distributed infrastructure for hybrid cloud, data driven insights and deploying and securing borderless networks. It continues to improve its technology and services ecosystem, expand its portfolio with products and offerings to address customer requirements across sectors. Further, Redington is empowering its partners and customers to access and deploy a wide range of technology options through its digital distribution model and a cloud platform that simplifies and streamlines subscription, annuities and renewals.

“In Q3FY23, our focus on digital transformation, combined with our core strength in innovations, technology and partnerships enabled us to fast-track the customer journey of tech adoption by reducing redundancies that cause technology friction. It has been our constant endeavor to innovate business models – whether it is creating a frictionless digital distribution platform or offering everything as a service for products and solutions for enterprise, mid-market and consumer segments. These provide a variety of choices while deploying state-of-the-art technology for greater competitiveness and efficiency and productivity gains. During the quarter we also strengthened our portfolio in emerging segments of solar and Industry 4.0” said Mr. Rajiv Srivastava, Managing Director, Redington Ltd.

Redington continues to work closely with its vast network of channel partners to simplify the procurement, supply chain and adoption of technology products for Enterprises, MSMEs, start-ups and consumers in all the 37 markets where it operates.

About Redington Limited:

Redington Limited, an integrated technology solutions provider and a Fortune 500 company, enables businesses in their digital transformation journeys by addressing technology friction – the gap between innovation and adoption. With presence across 38 markets through 60 subsidiary offices, over 290+ brand associations, and 40,000 channel partners, Redington enables seamless and end-to-end distribution for all categories of IT/ITeS, Telecom, Lifestyle, and Solar products in India, Singapore, South Asia, Middle-East, Africa and Turkey. Through its concentrated focus on technology, innovations, and partnerships, Redington is one of the most trusted distributors of products, services, and solutions across the world.

Denmark’s Ørsted, the world’s No. 1 offshore wind farm developer, on Wednesday reported fourth-quarter operating profit in line with preliminary 2022 numbers but said its offshore business faced challenges.

“In a year with unusual market conditions, not least the very volatile energy prices and a substantial increase in inflation, we’re happy to achieve a record-high operating profit for 2022,” Chief Executive Mads Nipper said in a statement.

Fourth-quarter earnings before interest, tax, depreciation and amortization (EBITDA) excluding new partnerships fell 19% to 6.70 billion Danish crowns ($979.5 million), the statement said.

The company said it saw an unexpected decrease in its offshore business in the fourth quarter, primarily due to adverse impacts from hedges and delays at its Hornsea 2 project in the UK and Greater Changhua 1 & 2a project in Taiwan.

Ørsted confirmed its 2023 forecasts for EBITDA, excluding new partnerships of 20-23 billion crowns, compared with 21.1 billion achieved last year and below the 24.2 billion crowns expected by analysts.

($1 = 6.8403 Danish crowns)

Source: Reuters

New Delhi : The Country’s largest power generator- NTPC Ltd., with a present group installed capacity of71544 MW, declared unaudited financial results for Q3/9MFY23.

NTPC Group generated 295 BillionUnits in 9MFY23 as compared to 265 Billion Units in 9MFY22, an increase of ~11%.NTPC’s standalone gross generation in 9MFY23 is 255 Billion Units as compared to 227 Billion Units in the corresponding previous period, registering an increase of ~12%.

NTPC Coal stations achieved a Plant Load Factor of 74.45% as against the National Average of 63.27% during 9M FY23.

On standalone basis, total income of NTPC for 9MFY23is ₹124,685.49 crore as against corresponding previous periodtotal income of ₹ 89,314.50 crore, registering an increase of 39.60%. Profit After Tax for 9MFY23is ₹ 11,524.41 crore as against ₹ 10,663.69 crore in 9MFY22, registering an increase of 8.07%.

On consolidated basis, total income of the group for 9MFY23is ₹ 133,231.43 crore as against corresponding previous periodtotal income of ₹ 97,269.89 crore, registering an increase of 36.97%. Profit After Tax of the group for 9MFY23is ₹ 12,249.80 crore as against corresponding previous period PAT of ₹ 11,760.78 crore, registering an increase of 4.16%.

The Board of Directors has approved interim dividend for FY23 @ 42.50 % of paid-up share capital i.e. ₹4.25 /- per equity share of face value of ₹10/- each.

Rattan India Power on Monday reported widening of its consolidated net loss to Rs 479.76 crore for the December quarter, mainly due to higher expenses.

The consolidated net loss of the electricity producer stood at Rs 386.69 crore in the quarter ended December 31, 2021, as per a BSE filing.

Total expenses rose to Rs 1,411.05 crore in the quarter from Rs 1,243.84 crore in the same period a year ago.

Total income climbed to Rs 931.29 crore from Rs 857.15 crore a year ago.

Source: PTI

This increase in the sale of energy was backed by 150 MW commissioned in Rajasthan in November 2022 and 140 basis points improvement in capacity utilisation factor (CUF)

Adani Green Energy on Monday posted a surge of 9 per cent in the sale of its solar energy portfolio to 2,507 million units for the quarter ended December 2022, against 2,300 million units.

The renewable energy company said this increase in the sale of energy was backed by 150 MW commissioned in Rajasthan in November 2022 and 140 basis points improvement in capacity utilisation factor (CUF).

Under the solar portfolio, plant availability was at 99.8 per cent in the reviewed quarter against 99.4 per cent in the year-ago period. Grid availability was at 99.6 per cent while it was 99.3 per cent in the year-ago period. It also said capacity utilisation factor was at 23.3 per cent in the reviewed quarter while it was 21.9 per cent in the year-ago period.

The company said its improved CUF performance was backed by 40 bps improvement in plant availability, 30 bps improvement in grid availability and improved solar irradiation.

Under wind portfolio, the company posted a jump of 47 per cent in its sale of energy to 300 million units for the reviewed quarter, against 204 million units in the corresponding quarter the previous year.

The company in a statement shared with exchanges said its sale of energy went up on the back of its capacity increase from 497 MW to 971 MW in the year-ago period.

Under wind energy, its plant availability was at 92.7 per cent in the reviewed quarter while it was 96.9 per cent in the corresponding quarter the previous year. Its grid availability was 88.2 per cent, against 99.9 per cent in the year-ago period.

CUF performance under wind portfolio was 14 per cent in the reviewed quarter while it was 18.6 per cent in the year-ago period.

The company said the reduction in CUF is primarily due to a one-off disruption in the transmission line for 150 MW plant at Gujarat, which has now been restored fully.

The impact of this event during the quarter is expected to be 0.1 per cent of the expected annual generation of the overall operational capacity.

Source: PTI

Shakti Pumps (India) Ltd on Friday said its December quarter net profit fell by 23 per cent to Rs 11.25 crore on account of increased expenses.

The firm had clocked a net profit of Rs 14.78 crore in the year-ago period, it said in a regulatory filing.

However, the company’s total revenue from operations rose to Rs 315.09 crore during the October-December quarter of the ongoing fiscal, up 17 per cent from Rs 270.87 crore a year ago.

Expenses were also higher at Rs 300.25 crore as against Rs 250.64 crore.

In a separate statement, the company’s Chairman and Managing Director Dinesh Patidar said, “the company’s performance during Q3 was decent with positive revenue numbers supported by strong growth in solar EPC and export business. Our export business delivered export revenue growth by 24.5 per cent y-o-y. Margins remained muted due to the challenging environment with the prevailing high input costs.” Further, he said that Shakti Pumps (India) will be participating in tenders of 6.66 lakh solar pumps floated by the Solar Energy Corporation of India Limited (SECI) during December 2022.

“Major states, including Maharashtra, Haryana, Rajasthan, Madhya Pradesh, and Punjab, together account for 82.5 per cent of the total requirement mentioned under the current tenders in the PM-KUSUM scheme. We are hopeful of securing decent orders in the current round of tenders,” Patidar said.

Shares of the company on Friday ended 1.11 per cent higher at Rs 410.45 apiece on the BSE.

Source: PTI

New Delhi : Sterling and Wilson Renewable Energy Limited (SWREL) on Thursday said it has narrowed its consolidated net loss to Rs 99.15 crore during December quarter, mainly due to lower expenses.

The company had reported a consolidated net loss of Rs 428.78 crore in the year-ago period, according to a regulatory filing.

Total income of the company stood at Rs 417.65 crore in the October-December quarter as against Rs 1,502.23 crore during the corresponding period of previous year.

Total expenses of the company also came down to Rs 512.79 core in the quarter from Rs 1,918.68 crore.

Source: PTI

Sovereign Green Bonds are likely to be issued during the January-March period of the current fiscal, Minister of State for FinanceInd Pankaj Chaudhary said on Tuesday. The objective of Sovereign Green Bonds is to mobilize resources for green infrastructure as part of the government’s overall market borrowings in 2022-23, he said in a written reply in the Rajya Sabha.

“The framework for these bonds has been brought out. The bonds are likely to be issued from January to March 2023. The proceeds will be deployed in public sector projects which help in reducing carbon intensity of the economy,” he said. Replying to another question, he said the value of the Indian rupee is market-determined. As global spillovers from geo-political tensions and aggressive monetary policy tightening across the world intensified alongside a surge in crude oil prices, the US dollar strengthened by 7.8 per cent in the financial year (till November 30), he said.

While the rupee has witnessed a depreciation of 6.9 percent in the current financial year till November 30, 2022, he said, it has performed better than most Asian peer currencies, including the Chinese Renminbi (10.6 percent), Indonesian Rupiah (8.7 percent), Philippine Peso (8.5 percent), South Korean Won (8.1 percent), Taiwanese Dollar (7.3 percent) etc during the financial year.

The Reserve Bank of India (RBI) closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.

The RBI had announced various measures in the recent period to diversify and expand the sources of forex funding to mitigate exchange rate volatility and dampen global spillovers. Replying to another question, Chaudhary said the total number of counterfeit currency notes detected in the banking system for 2021-22 stands at 2,30,971 pieces as per RBI. As regarding seizures, he said, the National Crime Records Bureau (NCRB) is the nodal agency, which compiles the data on crimes including the fake currency notes as reported to it by the States and the Union Territories, and publishes the same in its annual publication ‘Crime in India’.

Source: PTI

Chinese chemical supplier Yuntianhua reported its financial results for the third quarter. During the event, the company provided its investors with the latest information about its capacity expansion activities. Among its new manufacturing projects, one with 100,000 tons per year of production capacity for ferric phosphate finished construction in September and is currently in the pilot production phase. Yuntianhua said it is working hard to get the plant operate at full capacity.

Furthermore, another project that will add 2.2 million tons of production capacity for ferric phosphate is underway and scheduled to enter operation by the end of 2023. Yuntianhua has also recently completed a project for the manufacturing of lithium hexfluorophosphate and hydrofluoric acid. This project is a joint venture with DFD and has entered the pilot production phase.

At its quarterly presentation, Yuntianhua said it is manufacturing secondary products from its existing processes for products based on fluorine and phosphorous. Currently, the company’s subsidiaries possess 10,000 tons per year of production capacity for magnesium fluorosilicate and 1,500 tons per year of production capacity for fluoro-nitrobenzene that can be purposed for pharmaceutical applications. At the same time, the company is setting 100,000 tons per year of production capacity for ammonium bifluoride.

Yuntianhua has established several subsidiaries and invested in other chemical suppliers. Among them, Yunnan Fluorine Phosphorus Electronic Technology has 5,000 tons per year of production capacity for lithium hexfluorophosphate, and Yunnan Wengfu Yuntianhua Fluorchem Technology has 30,000 tons per year of production capacity for anhydrous hydrogen fluoride. Another subsidiary has 35,000 tons per year of production capacity for aluminum fluoride.

Regarding the production capacity figures of its other chemical products, Yuntianhua currently possesses 2 million tons per year of production capacity for synthetic ammonia. The company has also set up 200,000 tons per year of processing capacity for purifying phosphoric acid via a wet process and is adding another 100,000 tons per year. Moreover, the company has been extracting fluorine from the fluorspars that exists in phosphate minerals. In doing so, it has been able to maintain a certain level of inventory for fluorine. Also, the company now has around 170,000 tons per year of production capacity for hexafluorosilicic acid as a secondary product.

According to Yuntianhua’s plan to expand into the market for new energy solutions, the company will be capitalizing on opportunities surrounding ferric phosphate and partnering with companies that have competitive advantages in the battery supply chain. Together, Yuntianhua and its allies will pool their resources, technologies, and capital so as to build an industry clusters for advanced materials used in Li-ion batteries.

On September 29 this year, Yuntianhua and Huayou Holding Group signed a letter of intent for cooperation in the production of ferric phosphate and lithium ferro-phosphate. Two parties will form a complete and competitive industry chain for these materials. Currently, both sides are formulating follow-up plans and seeking approvals from the relevant regulatory authorities.

Also, at the start of this year, Yuntianhua has signed investment agreement with SEMCORP, Huayou Holding Group, EVE, and the government of Yuxi. Yuntianhua, SEMCORP, Huayou, and EVE will form a joint venture with an initial registered capital of RMB 10 million. The new entity is currently being set up, and various departments under the government Yuxi are committing resources to support its development. Yuxi is a prefecture-level city in China’s Yunnan Province.

Source: energytrend

Power trading solution provider PTC India’s consolidated net profit more than trebled to Rs 157.11 crore in the March 2022 quarter, mainly due to lower expenses.

The consolidated net profit of the company was Rs 49.77 crore in the quarter ended March 31, 2021, a BSE filing showed.

Its total expenses dipped to Rs 2,890.57 in the quarter from Rs 3,792.56 crore a year ago.

The total income also declined to Rs 3,107.04 crore in the quarter from Rs 3,925.99 crore in the year-ago period.

Its consolidated net profit stood at Rs 551.67 crore in 2021-22 fiscal compared to Rs 457.62 crore in 2020-21.

However, the total income in the fiscal came down to Rs 16,879.77 crore from Rs 18,373.66 crore earlier.

Source: PTI

The Indian Renewable Energy Development Agency (IREDA) on Saturday posted 67 per cent jump in net profit at Rs 184.30 crore for September quarter 2022-23, mainly due to higher revenues.

In the year-ago period, the profit after tax was Rs 110.27 crore, according to a statement from Ministry of New & Renewable Energy.

Gross income rose to Rs 791.56 crore from Rs 682.94 crore.

IREDA’s Net Non-Performing Assets (bad loans) were reduced to 2.72 per cent in the quarter under review from 4.87 per cent in the same period a year ago.

Its loan book stood at Rs 33,783.36 crore in the quarter as against Rs 28,856.48 crore earlier.

The agency sanctioned loans of Rs 11,226.49 crore in the quarter as compared with Rs 5,925.12 crore in the same period a year ago.

Source: PTI

Sales decline 37.16% to Rs 9.47 crore

Net Loss of Refex Renewables & Infrastructure reported to Rs 8.92 crore in the quarter ended September 2022 as against net loss of Rs 0.03 crore during the previous quarter ended September 2021. Sales declined 37.16% to Rs 9.47 crore in the quarter ended September 2022 as against Rs 15.07 crore during the previous quarter ended September 2021. ParticularsQuarter EndedSep. 2022Sep. 2021% Var.Sales9.4715.07 -37 OPM %-2.32-5.44 -PBDT-4.81-5.26 9 PBT-9.19-9.59 4 NP-8.92-0.03 -29633.Read More…

Source : capital Markets

Total income was 52 per cent higher at Rs 8,446 crore as against Rs 5,572 crore in September quarter 2021-22.

Adani Power on Friday posted a consolidated net profit of Rs 696 crore for September quarter 2022-23, mainly due to higher one-time income.

In the year-ago period, it incurred a net loss of Rs 231 crore, a company statement said.

Total income was 52 per cent higher at Rs 8,446 crore as against Rs 5,572 crore in September quarter 2021-22.

The increase in revenue was aided by improved tariffs under long-term power purchase agreements (PPAs) on account of higher prices of imported coal as well as improved merchant/short-term tariffs due to more demand.

Revenue in the quarter includes one-time income of Rs 912 crore, primarily in the form of higher other income on account of late payment surcharge, it said.

In comparison, income in the second quarter of 2021-22 included one-time revenue recognition of Rs 141 crore, it stated.

“Conventional power continues to act as the bedrock of India’s stable grids, thereby enabling investments in renewable energy for achieving the nation’s ambitious targets for carbon intensity reduction.

Even as the world grapples with the fallout of geopolitical instability in the energy sector, India’s natural resources such as solar energy, wind, and coal have helped protect its economy despite reliance on imports of fossil fuels, said Anil Sardana, Managing Director, Adani Power.

“We will continue to seize value accretive opportunities and pursue our long-term growth strategies to leverage our complementarity with Adani Group’s energy portfolio and partnerships in natural gas and solar energy,” he added.

The company said during the quarter, Adani Power and its subsidiaries achieved an average Plant Load Factor (PLF) of 39.2 per cent and power sale volume of 11 billion units (BU) as compared to PLF of 48.7 per cent and power sale volume of 12.4 BU in second quarter of 2021-22.

The operating performance during the quarter includes the 1,200 MW power plant of Mahan Energen Ltd, which was acquired in March 2022.

During the quarter, performance was affected by high import coal prices leading to grid back-downs and reserve shutdowns at Mundra and Udupi.

Volumes were constrained at other plants due to challenges in fuel availability despite higher power demand, it stated.

During April-September 2022-23, Adani Power and its subsidiaries achieved an average PLF of 48.9 per cent and sales of 27.3 BU, as compared to a PLF of 56.7 per cent and sales volume of 28.6 BU in the year-ago period.

Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India.

The company has an installed thermal power capacity of 13,610 MW spread across seven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh and Madhya Pradesh, apart from a 40 MW solar power plant in Gujarat.

Source : PTI

Auto components maker Uno Minda Thursday said its consolidated net profit increased by 61 per cent to Rs 182 crore in the second quarter ended September 30, riding on robust sales across segments.

The company had reported a net profit of Rs 113 crore in the July-September period of last fiscal.

Its revenue from operations rose to Rs 2,877 crore in the period under review against Rs 2,114 crore in the year-ago period, Uno Minda said in a regulatory filing.

”We have been taking measured efforts to increase our share of business with OEMs, consistently increase kit value and offer new and advanced technologies to our customers to capture growing opportunities in the automotive components market.

”Our efforts have been reaping benefits with consistent performance and leadership across all our products,” Uno Minda Group CMD Nirmal K Minda said in the filing.

The company’s board on Thursday also approved the setting up of a new 4W lighting plant with a total capital expenditure of Rs 400 crore to be spent over the next five years in a phased manner.

The initial outlay for the first phase of setting up the plant will be Rs 230 crore over the next two years, the company said.

The first phase is intended to be commissioned by the fourth quarter of FY24, it added.

The company said it is evaluating various locations to set up the plant and is expected to finalise within this quarter.

Uno Minda said its board has also approved a proposal to enter into a joint venture (JV) agreement with Germany’s Buehler Motor GmbH to develop, manufacture and market traction motors in India and other SAARC nations.

The JV will offer traction motors for battery-driven electrified two and three-wheelers, it noted.

Uno Minda will hold a 50.1 per cent stake in the JV while the remaining stake will be held by Buehler, it added.

The joint venture plans to incur capital expenditure of Rs 110 crore, including sustaining capex over a period of the next six years, Uno Minda said.

Commenting on the development, Minda said the partnership will help to combine engineering expertise and technologies to accelerate the localisation and manufacturing of traction motors for the Indian automotive market.

Buehler CEO Mark Furtwangler said: ”Our combined strength – Uno Minda’s expertise in value-focused engineering, manufacturing process and customer connects and Buehler Motor’s technical expertise, global experience in motors and access to future technology – is a potent recipe for success in growing electric vehicle markets in India”.

Shares of Uno Minda closed 1.71 per cent down at Rs 551.20 apiece on the BSE.

Source: PTI

PFC group can now lend to infrastructure and logistics sectors, implying a positive opportunity for the group to diversify its businesses

Power Finance Corporation (PFC) on Thursday posted its highest ever quarterly profit after tax of Rs 5,229.33 crore for September quarter 2022-23 mainly due to higher revenues.

The consolidated profit is 4 per cent higher as compared to the year-ago period when it logged a profit of Rs 5,023.42 crore, it said in a BSE filing.

Total income rose to Rs 19,344.39 crore from Rs 19,282.60 crore in the same period a year ago.

The board in its meeting on Thursday also approved second interim dividend of Rs 3 per share of Rs 10 each for 2022-23.

The PFC group delivered its highest ever consolidated profit after tax (PAT) of Rs 5,229 crore in Q2FY23, it said in a statement.

The group reported a PAT of Rs 9,809 crore in April-September FY23 as against Rs 9,578 crore in the year-ago period.

The consolidated net worth crossed Rs 1 lakh crore mark and stood at Rs 1,02,280 crore (including non-controlling interest) as on September 30, 2022. This is reflective of PFC group’s strong fundamentals and would help in leveraging future business opportunities, it stated.

The synergies in resolution of stressed assets led to a sharp reduction of 79 basis points in gross NPA (bad loan) ratio. Gross NPA came down from 5.17 per cent in April-September 2021-22 to 4.38 per cent in the six-month period of ongoing fiscal year.

Net NPA ratio too saw 45 basis points reduction. It came down from 1.72 per cent in first half of 2021-22 to 1.27 per cent in April-September 2022-23. This is the lowest ever net NPA ratio.

Under the late payment surcharge scheme, till date, the PFC group has collectively sanctioned Rs 1,00,303 crore to 15 discoms in 10 states and so far has disbursed Rs 13,307 crore.

PFC group can now lend to infrastructure and logistics sectors, implying a positive opportunity for the group to diversify its businesses.

To start with, lending up to 30 per cent of net worth has been permitted by Ministry of Power, it stated.

Source: PTI

Its total income increased to Rs 1,945.14 crore from Rs 1,886.82 crore earlier

Reliance Power on Thursday reported widening of its consolidated net loss to Rs 340.26 crore in the September quarter, mainly due to higher expenses.

The consolidated net loss of the company stood at Rs 133.10 crore in the quarter ended September 30, 2021, it said in a BSE filing.

Total expenses of the company rose to Rs 2,216.07 crore in the quarter from Rs 1,979.17 crore in the same period a year ago.

Its total income increased to Rs 1,945.14 crore from Rs 1,886.82 crore earlier.

Reliance Power made a debt repayment of Rs 390 crore in the quarter. The company added that it is on track to repay Rs 1,500 crore debt in FY’23.

Source: PTI

BOROSIL RENEWABLES LIMITED has reported Standalone financial results for the period ended September 30, 2022.

Financial Results (Q2 FY2023) – QoQ Comparison

The company has reported total income of Rs. 171.3725 crores during the period ended September 30, 2022 as compared to Rs. 173.1189 crores during the period ended June 30, 2022.

The company has posted net profit / (loss) of Rs. 24.2844 crores for the period ended September 30, 2022 as against net profit / (loss) of Rs. 30.1063 crores for the period ended June 30, 2022.

The company has reported EPS of Rs. 1.86 for the period ended September 30, 2022 as compared to Rs. 2.31 for the period ended June 30, 2022.

Financials	Q2 FY2023	Q1 FY2023	% Change
Total Income	₹ 171.3725 crs	₹173.1189 crs	-1.01%
Net Profit	₹24.2844 crs	₹30.1063 crs	-19.34%
EPS	₹1.86	₹2.31	-19.48%

Financial Results (Q2 FY2023) – YoY Comparison

The company has reported total income of Rs. 171.3725 crores during the period ended September 30, 2022 as compared to Rs.165.6254 crores during the period ended September 30, 2021.

The company has posted net profit / (loss) of Rs.24.2844 crores for the period ended September 30, 2022 as against net profit / (loss) of Rs.34.1116 crores for the period ended September 30, 2021.

The company has reported EPS of Rs.1.86 for the period ended September 30, 2022 as compared to Rs.2.62 for the period ended September 30, 2021.

Financials	Q2 FY2023	Q2 FY2022	% Change
Total Income	₹ 171.3725 crs	₹165.6254 crs	3.47%
Net Profit	₹24.2844 crs	₹34.1116 crs	-28.81%
EPS	₹1.86	₹2.62	-29.01%

Financial Results (Half Year Ended FY2023) – YoY Comparison

The company has reported total income of Rs.344.4914 crores during the 6 Months period ended September 30, 2022 as compared to Rs.308.1378 crores during the 6 Months period ended September 30, 2021.

The company has posted net profit / (loss) of Rs.54.3907 crores for the 6 Months period ended September 30, 2022 as against net profit / (loss) of Rs.73.7363 crores for the 6 Months period ended September 30, 2021.

The company has reported EPS of Rs.4.17 for the 6 Months period ended September 30, 2022 as compared to Rs.5.67 for the 6 Months period ended September 30, 2021.

Financials	Half Year Ended FY2023	Half Year Ended FY2022	% Change
Total Income	₹344.4914 crs	₹308.1378 crs	11.80%
Net Profit	₹54.3907 crs	₹73.7363 crs	-26.24%
EPS	₹4.17	₹5.67	-26.46%

Shares of BOROSIL RENEWABLES LIMITED was last trading in BSE at Rs. 567.25 as compared to the previous close of Rs. 578.90. The total number of shares traded during the day was 35584 in over 2921 trades.

The stock hit an intraday high of Rs. 583.10 and intraday low of 565.05. The net turnover during the day was Rs. 20416047.00.

Source: equitybulls