Shares of Godawari Power & Ispat Ltd surged over 7 percent on April 10 morning after the company said it resumed full operations at its biomass power plant in Chhattisgarh after a fire incident.
At 10.20 am, Godawari Power was up nearly 6 percent at Rs 800 on the National Stock Exchange. The stock, which has more than doubled in the past year, has recorded gains for three consecutive weeks.
It commenced trial operations at the Chhattisgarh plant on March 27, and resumed full-scale operations on April 8, Godawari Power told exchanges.
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According to the company, a fire at an 8=MW biomass power plant of its subsidiary Hira Ferro Alloys Ltd in Chhattisgarh in August 2023 forced it to halt operations.
The news of the Chhattisgarh plant's operational resumption was communicated to Godawari Power by Hira Ferro Alloys on April 9, Godawari Power said.
In the fiscal third quarter, Godawari Power and Ispat consolidated net profit rose to Rs 229.26 crore from Rs 128.21 crore a year ago. Its revenue fell to Rs 1,308.92 crore from Rs 1,462.99 crore.
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