Orient Green Power Sees Widening Losses Amid Rising Expenses

Orient Green Power Company's consolidated net loss expanded to Rs 22.41 crore in the December 2024 quarter due to increased expenses. The company's revenue dropped to Rs 34.50 crore compared to the previous year's Rs 38.18 crore, while expenses rose to Rs 62.77 crore from Rs 60.76 crore.

Orient Green Power Company reported a consolidated net loss of Rs 22.41 crore for the December 2024 quarter, citing higher expenses as the primary factor. This marks an increase from a net loss of Rs 20.64 crore in the same period the previous year, according to an exchange filing.

The company's revenue from operations fell to Rs 34.50 crore in the latest third quarter, down from Rs 38.18 crore a year prior. Meanwhile, its expenses rose to Rs 62.77 crore from Rs 60.76 crore incurred during the third quarter of the last fiscal year.

In a statement, MD and CEO T Shivaraman emphasized that while the current quarter saw only a marginal increase in operating revenues, the EBITDA comparatives included a notional forex restatement loss of Rs 2 crore. Adjusting for this, the QoQ EBITDA figures remain unchanged.

(With inputs from agencies.)