Orient Green Power Company Ltd Share Price – NSE  /  BSE

Power Generation & Distribution, Small Cap

Net loss of Orient Green Power Company reported to Rs 21.07 crore in the quarter ended December 2023 as against net profit of Rs 10.02 crore during the previous quarter ended December 2022. Sales rose 19.77% to Rs 33.98 crore in the quarter ended December 2023 as against Rs 28.37 crore during the previous quarter ended December 2022.

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Orient Green Power Company will hold a meeting of the Board of Directors of the Company on 14 February 2024.

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The Board of Orient Green Power Company at its meeting held on 15 December 2023 has approved to increase the rights issue size from Rs 225 crore to Rs 300 crore.

The Board also approved issue of loans up to Rs 250 crore from the proceeds of the proposed rights issue to its subsidiaries including Clarion Wind Farm, Gamma Green Power and Delta Renewable Energy.

The Board also approved investment of up to Rs 100 crore in Delta Renewable Energy.

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In an exchange filing, the company stated, “A meeting of the board of directors is proposed to be held on Friday, 15 December 2023 to discuss on matters relating to the issue including but not limited to the revising the size of the issue; discussing on the objects of the proposed issue and other material terms concerning the issue.”

On 1 November 2023, Orient Green Power Company said that its board approved fund raising through issuance of equity shares on rights basis for a value not exceeding Rs 225 crore.

Orient Green Power Company is engaged in the business of generation and sale of power using renewable energy sources i.e., wind energy.

The company's consolidated net profit zoomed 121.5% to Rs 74.96 crore on 13.4% rise in net sales to Rs 122.30 crore in Q2 FY24 over Q2 FY23.

The scrip declined 1.61% to Rs 23.20 on the BSE.

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