Singapore-based energy firm Sembcorp's India unit has turned around to post a net profit of Singapore dollar 28.9 million (about Rs 153.3 crore) in the September quarter on better operational performance and commencing a new wind power project.
Net profit of Singapore dollar (SGD) 28.9 million in the July-September quarter compared with a loss of SGD 2.7 million a year ago, according to a company statement.
Sembcorp Energy India Ltd's "thermal power plant continue to contribute positively and improvement in third quarter of 2018 came from its renewable power plant with good wind season," it said.
The company follows January to December as the financial accounting year.
Sembcorp Industries Group President and CEO Neil McGregor said: "India continued to deliver a positive performance. We secured a long-term power purchase agreement for our second thermal power plant and commenced operations of the 250-megawatt wind power project, the first installed capacity delivered under India's nationwide wind power tenders. We now have 2,600 megawatts of renewable energy assets in operation and under development globally."