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Adani Green Q1 loss widens to Rs 74 cr


PTI Last Updated at 11 Aug 2018, 19:08 IST India

New Delhi, Aug 11 (PTI) Adani Green Energy today reported widening of net loss to Rs 74.26 crore for the June quarter, 2018-19.

The company had reported a net loss of Rs 17 crore in the same quarter of previous year, a regulatory filing said.

Net consolidated income rose to Rs 482.42 crore from Rs 194.13 crore in the year-ago period.

Expenses remained higher at Rs 581.86 crore as against Rs 213.22 crore earlier.

This is the company's first quarterly results after its listing at the bourses in June this year.

Adani Green Energy Chairman Gautam Adani said: "We believe the adoption of renewable energy and developing low cost renewable energy plant is important in a country like ours. We are in alignment with the government's agenda of generating 228 GW of renewable energy by 2022 and increasing the scope of incorporating green energy and enabling last-mile connectivity to power."

In a separate statement, CEO Jayant Parimal said: "India's power sector is evolving rapidly with significant hybridization of renewable energy and we see a huge opportunity in the sector." PTI LUX ANU

ANU

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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