Greenlight Planet Tuesday said it has raised USD 2.36 million (about Rs 16.5 crore) for its off-grid solar projects in the country, through support of Trine, a Swedish investment company that enables individuals to invest sustainably.
For the first time Greenlight Planet has sourced debt financing from individuals by connecting with 1,822 investors to fully fund the USD 2.36 million loan, the company said in a statement issued here.
The company plans to utilise the funds to provide 5.6 lakh people with electricity while reducing an estimated 1.28 lakh tonne of carbon emissions as fossil fuels can be replaced with solar energy.
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* GroupM elevates South Asia COO Prasanth Kumar as CEO
GroupM, part of global advertising conglomerate WPP group, Tuesday said it has elevated its South Asia Chief Operating Officer Prasanth Kumar as Chief Executive Officer.
He will take over from Sam Singh, who is leaving GroupM to take on a senior role at ByteDance, a technology company specialising in content platforms.
Singh will leave GroupM at the end of June, while Kumar will take up the role of CEO with immediate effect.
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* HPL Electric and Power Q4 FY19 PAT up 73 pc at Rs 12.6 cr
Electric equipment manufacturing firm HPL Electric and Power Tuesday reported a 73 per cent increase in consolidated net profit for the quarter ended March 31 at Rs 12.6 crore as against Rs 7.2 crore last year, mainly on the back of higher revenues.
Its total revenues for the quarter under review increased 12.1 per cent to Rs 352.5 crore from Rs 314.6 crore in corresponding quarter last year, the company said in a statement.
For fiscal 2018-19, the company reported a PAT of Rs 32.7 crore and revenue of Rs 1,158.5 crore as against Rs 27.6 crore and Rs 1,036.3 crore in 2017-18, respectively.
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