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News Brief | June 2016

EPGL turning the corner, posts Rs.35cr PAT

Essar Power Gujarat Ltd (EPGL), a subsidiary of Essar Power Ltd, is finally turning the corner. After facing major financial losses and fuel supply challenges, the profit after tax (PAT) for the fiscal ended March 31, 2016 was Rs.35 crore, against a Rs.684 crore loss in the previous year. The management has attributed the turnaround in performance to the better operational efficiency and reduction in coal prices through e-auction procurement. The company runs a 1,200-MW imported coal-based power plant at Salaya, Gujarat, which meets about 9 per cent of Gujarat's power demand.
Contact: Essar Group
Website: www.essar.com
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