1st Dec 2015 10:52
LONDON (Alliance News) - OPG Power Ventures PLC on Tuesday said its pretax profit and revenue both rose in the first half as it increased its operating capacity and improved margins.
The Indian power generation operator said its pretax profit for the six months to the end of September was GBP15.0 million, up from GBP10.3 million a year earlier, as revenue rose to GBP56.6 million from GBP46.5 million.
The profit was further boosted by the group's earnings before interest, taxation, depreciation and amortisation margin for the half hitting 41.0%, from 36.0% a year earlier.
The group's operating capacity in the half more than doubled, up to 600 megawatts from 270MW previously after its first unit in Gujarat started operation in April and its Chennai unit started operating. A second Gujarat unit is due to start operating in January.
Shares in OPG were flat at 86.5002 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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