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Green Energy developer Orient Green Power revenues grow 117%

Orient Green Power Company Limited (OGPL), a leading independent renewable energy-based power generation company in India said today that its revenue from operations more than doubled to Rs.135.2 crore.  The Q1FY13 revenues at >50% of FY12 annual revenues. The company announced a EBITDA growth of 144% from Rs.27 crore to Rs.65.9 crore and an increase in EDITDA margin improvement of 530bps to 48.71%. The PAT stood at Rs.2.3 crore as compared to Rs.3.5 crore in Q1 FY12.

“Revenue growth has been driven by capacity expansion and improved PLF’s during the period. Growth has been balanced between wind and biomass assets which have made equally significant improvements in contribution in the current quarter,” said  P. Krishnakumar, Managing Director OGPL.

“EBITDA margins have firmed up due to better realizations and increased efficiencies. We are also currently evaluating strategies to diversify borrowings to mitigate finance costs.”

“The seasonal increase in revenues has led to a PAT of Rs.2.3 crore this quarter compared to a loss of Rs.46 crore in the immediately preceding quarter,” Krishnakumar said.

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