Shares of NTPC Inexperienced Power Ltd (NGEL) soared 4% on 25 February after the corporate introduced signing a Memorandum of Understanding (MoU) with Madhya Pradesh Energy Producing Firm Ltd for creating renewable vitality parks and initiatives within the state.
The MoU is aimed in direction of constructing photo voltaic, wind, and hybrid renewable vitality services with or with out storage that may generate at the very least 20 GW of electrical energy in Madhya Pradesh.
It additionally facilitates the incorporation of a three way partnership firm (JVC) to help MPPGCL’s Renewable Technology Obligation (RGO) and the Renewable Buy Obligation (RPO) of the state’s energy distribution corporations.
The deal was signed in entrance of Madhya Pradesh Chief Minister Mohan Yadav, NTPC CMD Gurdeep Singh, Further Chief Secretary (Power) Neeraj Mandloi (IAS), and senior officers from the state’s Power Division, NGEL, MPPGCL, and NTPC.
NTPC Inexperienced Power’s internet revenue, or revenue after tax (PAT), rose 52.3% to Rs 89.4 crore for the quarter from Rs 58.7 crore in the identical quarter of the prior fiscal yr. The renewable vitality firm’s income for the quarter climbed 4.1% to Rs 460.9 crore from Rs 442.6 crore in Q3 FY24.
NTPC Inexperienced Power, earnings earlier than curiosity, taxes, depreciation, and amortization, or (EBITDA), decreased 2.3% to Rs 384.6 crore from Rs 393.6 crore within the earlier yr. However the firm’s EBITDA margin dropped to 83.5% from 88.9% in Q3 FY24.
Nevertheless, at 12:04 pm, the shares of NTPC Inexperienced Power had been buying and selling 0.13% decrease at Rs 98.27 on NSE.
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