Jaiprakash Power Ventures Q4 loss at Rs157.62 crore
For the year ended 31 March, Jaiprakash Power Ventures reported a consolidated net loss of Rs1,690.35 crore as compared with Rs1,293.86 crore in the 2016-17 period
New Delhi: Jaiprakash Power Ventures on Saturday reported a net loss of Rs157.62 crore for the fourth quarter ended 31 March 2018. The company had posted a net loss of Rs 229.39 crore in the same period of the previous fiscal.
Sales from operations for the fourth quarter stood at Rs716.65 crore for the fourth quarter. It stood at Rs 699.99 crore in the same period of 2016-17 fiscal.
For the year ended 31 March, the company reported a consolidated net loss of Rs1,690.35 crore as compared with Rs1,293.86 crore in the 2016-17 period.
“The financial performance and cash flows of the company have been adversely impacted by the overall stress in the power sector and also due to specific challenges faced by the company in the previous years in the thermal power plants,” the company said in a regulatory filing.
The operations of thermal power projects have been impacted on account of revised tariff guidelines adopted by Madhya Pradesh Electricity Regulatory Commission (MPERC) for 2016-17 to 2018-19, it added.
In order to overcome the financial stress, the company lenders are in a process of formulating a revival plan, Jaiprakash Power Ventures said. The company has aggregate power generation capacity of 2,220 MW comprising of Hydro (400 MW) and thermal (1,820 MW).
- Q2 results: HDFC Bank net profit rises 20.6% to Rs 5006 crore
- Govt, board eye asset sales to turn IL&FS around in six months
- Jet Airways sets jet sale, leaseback plan in motion to raise $800 mn
- Lenders accept ArcelorMittal resolution plan for Essar Steel
- #MeToo: Publicis India sacks executive creative director Ishrath Nawaz
Editor's Picks »
- India to put former top climate change official Rajendra Pachauri on trial for sexual harassment
- Rahul Gandhi hits out at KCR, claims Telangana reeling under debt
- Deve Gowda-Siddaramaiah display rare bonhomie ahead of Karnataka by-polls
- Govt allocates Rs 144 crore to AYUSH ministry for alternative medicines
- Esperanto, A language whose time never came
- Policy rethink and higher volumes to aid container shippers
- DCB Bank delivers a strong Q2 but pressure on margins foreseen
- Havells India: Rising costs give a jolt to profitability in September quarter
- All’s well at Mindtree, except for high client concentration risk
- India’s rising steel demand is making companies starry-eyed