EPGL de­liv­ers strong half year per­for­mance

Power Watch India - - DESPATCHES FINANCE -

Es­sar Power Gu­jarat Ltd (EPGL), owner and op­er­a­tor of a 1,200 MW im­ported coal-fired ther­mal power plant at Salaya in Gu­jarat’s Devb­humi Dwarka dis­trict, has recorded a 33% growth in EBITDA in the half year end­ing 30 Septem­ber 2016 over the pre­vi­ous fis­cal. The EBIDTA for the first of the cur­rent FY stood at Rs 300 crore as com­pared with Rs 226 crore in the same pe­riod last year. Rev­enues grew by 12% to Rs 951 crore in H1 FY17 from Rs 851 crore in H1 FY16. The strong financial per­for­mance can be at­trib­uted to ro­bust im­prove­ment in all op­er­a­tional pa­ram­e­ters like plant avail­abil­ity which grew by 14%, as well as gen­er­a­tion, which also grew by 14% to 2,953 mil­lion units as against 2,595 mil­lion units in the cor­re­spond­ing pe­riod last year.

Ramesh Ku­mar, MD, EPGL, said, “We have been work­ing dili­gently on im­prov­ing our op­er­a­tional pa­ram­e­ters. Mi­gra­tion from a sin­gle-ori­gin coal bas­ket to a multi-ori­gin one through invit­ing bids from global coal sup­pli­ers on our in­dige­nously de­vel­oped re­verse e-auc­tion plat­form has helped us bet­ter our mar­gins. The up­com­ing sea wa­ter in­take sys­tem and coal con­veyor cor­ri­dor will fur­ther en­hance our mar­gins once they are com­mis­sioned.”

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