Orient Green Power Company's net profit rises 6% to Rs 9.29 cr in Q1

Orient Green Power Company on Friday posted a 6 per cent rise in its consolidated net profit to Rs 9.29 crore in the June quarter.

The company had reported a consolidated net profit of Rs 8.76 crore in the quarter ended on June 30, 2022, according to a statement.

Total income of the company increased to Rs 79.28 crore in the quarter from Rs 78.19 crore in the same period a year ago.

"Further to the refinancing of over Rs 703 crore during March 2023, the company refinanced secured loans over Rs 78 crore during the year at reduced interest rates. The interest/charges on pre-closure charges of these loans amounted to Rs 386 lakh classified under exceptional items," T Shivaraman, Managing Director & CEO, said in the statement.

The company also said that a board committee has approved the letter of offer of the rights issue which will open by August 28, 2023, Shivaraman said.