The operating revenue of the company for September quarter stood at Rs 284.6 crore, an increase of 28 per cent
New Delhi : Solar power producer Azure Power Global Limited today posted a 154 per cent increase in net loss at Rs 75.6 crore for the quarter ended September 2019 as against a loss of Rs 29.7 crore reported in the same quarter last year.
“The higher losses are primarily due to higher general and administrative expenses, higher net interest expenses, partially offset by higher revenue,” the company said in a statement.
The operating revenue of the company for September quarter stood at Rs 284.6 crore, an increase of 28 per cent over the revenue for the quarter ended September 2018.
Operating and committed capacity stood at 3,370 MWs at the end of second quarter, a 10 per cent increase over the corresponding quarter. During the period, the company cancelled its participation in 350 MW projects and received letter of awards for 370 MW of new projects.
The company said its power generation during the second quarter grew 238 million units (MUs) to 610 million units. The increased generation was mainly a result of additional operating capacity during the period.
Azure Power’s Plant Load Factor (PLF) for the July-September period stood at 16.8 per cent as compared to 16.4 per cent for the same period last year. This was mainly attributed to additional capacity in high radiation areas, which was offset by lower insolation due to extended monsoon, the firm said.
The company expects its operational capacity to rise in a range between 1,800 Mw and 1,825 MW by the end of the current financial year in March 2020. It is working on a revenue target between Rs 1,277 crore and Rs 1,335 crore for the current fiscal.
Source : economictimes
