Orient Green Company Q3 loss at Rs 20.64 crore

Orient Green Company's total income was trimmed to Rs 38.18 crore from Rs 57.33 crore a year ago.

Orient Green Power Company Limited (OGPL) on Wednesday reported a consolidated net loss of Rs 20.64 during the quarter ended December 2023. It had posted a net profit of Rs 9.74 crore in the October-December period of the preceding 2022-23 financial year, the company said in an exchange filing.

Its total income was trimmed to Rs 38.18 crore from Rs 57.33 crore a year ago. Expenses stood at Rs 60.76 crore against Rs 65.78 crore in the third quarter of the last fiscal.

In a separate statement, its CMD T Shivaraman said, "Our board approved a rights issue for about Rs. 250 crore predominantly for venturing into solar business and debt reduction. The reduced finance cost and a conducive regulatory environment promoting green energy bode well for the future".