 "Essar Power Gujarat reports Rs 157 cr revenues")
Essar group owned-Essar Power Gujarat Ltd has reported sales of Rs 157 crore and an earnings before interest, depreciation, tax and amortisation (EBIDTA) of Rs 50 crore for the quarter ending December 2015.
In a statement, the company said its EPGL achieved a plant availability of 93% in December, the quarterly availability (for the quarter ended 31st December 2015) was at an all-time high of 97%.
"Our company expects to make significant gains from the drop in the cost of coal and improvement in efficiency. The coal prices are expected to fall further in 2016 because of weak global demand. Also, domestic interest rates are expected to further soften. This will give EPGL financial flexibility in terms of higher cash flow and lower funding costs in the coming fiscal," said Ramesh Kumar, MD, Essar Power Gujarat.
In a statement, the company said its EPGL achieved a plant availability of 93% in December, the quarterly availability (for the quarter ended 31st December 2015) was at an all-time high of 97%.
"Our company expects to make significant gains from the drop in the cost of coal and improvement in efficiency. The coal prices are expected to fall further in 2016 because of weak global demand. Also, domestic interest rates are expected to further soften. This will give EPGL financial flexibility in terms of higher cash flow and lower funding costs in the coming fiscal," said Ramesh Kumar, MD, Essar Power Gujarat.
The Salaya unit, whose capacity equals about 10% of Gujarat state’s overall power demand, is among the best operated power plants in the country.