Swan Energy will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Swan Energy has invested Rs 1 lakh in 'Triumph Offshore' for purchase of its 100% equity shares, equivalent to 10,000 equity shares of Rs 10 each. Consequently, Triumph Offshore has become a subsidiary of the Company of Swan Energy.

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Net profit of Swan Energy rose 463.64% to Rs 1.24 crore in the quarter ended March 2017 as against Rs 0.22 crore during the previous quarter ended March 2016. Sales rose 23.94% to Rs 95.30 crore in the quarter ended March 2017 as against Rs 76.89 crore during the previous quarter ended March 2016.

For the full year,net profit rose 184.75% to Rs 1.68 crore in the year ended March 2017 as against Rs 0.59 crore during the previous year ended March 2016. Sales rose 4.26% to Rs 330.76 crore in the year ended March 2017 as against Rs 317.26 crore during the previous year ended March 2016.

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The Board of Directors of Swan Energy have approved allotment of 2,30,77,000 equity shares of Re 1 each at a price of Rs 195 per share on preferential basis to 2i Capital PCC pursuant to receipt of subscription amount of Rs 450 crore.

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