India

India’s Orient Electric reported a 27% fall in first-quarter profit, with higher expenses outweighing increased sales of fans and coolers amid the country’s scorching heat. The company’s profit decreased to Rs 143.4 million for the quarter, down from Rs 196.9 million a year earlier. Revenue from operations grew by 7% to Rs 7.55 billion.

Servotech Power Systems Ltd., a leading manufacturer of Electric Vehicle (EV) chargers, solar solutions, and power-backup solutions, has announced its quarterly results. The company’s net profit after tax (PAT) in the first quarter of FY2024-25 was Rs 44.8 million, up from Rs 41.0 million in the same quarter last year. Key Highlights of the Quarterly Results: Consolidated Highlights Total Revenue: Grew by 41 per cent in Q1 FY25 to Rs 1.12 billion from Rs 798.1…

The Ministry of Environment, Forest and Climate Change (MoEFCC) has granted Stage-II clearance under the Forest Conservation Act (FCA) to the Shongtong Hydro Electric Project in Himachal Pradesh’s Kinnaur district. The approval, pending since 2018, was essential for using approximately 17 acres of land for the 450 MW Shongtong Karchham Hydro Electric Project. The Stage-I clearance was initially granted on March 19, 2024. Following this, the state government submitted a compliance report and requested final…

NTPC Renewable Energy Limited (NREL), a subsidiary of NTPC Limited, is developing a 630 MW solar project in Barethi, Chhatarpur district, in Khajuraho. The project, executed under the Engineering, Procurement & Construction (EPC) mode, has been sanctioned by the Ministry of New & Renewable Energy (MNRE) under the Solar Parks scheme. The land for the project has been transferred to NREL. Notice Inviting Tender (NIT) for the EPC Package and Pooling Substation Package have been…

Currently, Flue Gas Desulfurization (FGD) systems are being installed in 537 units across coal-based thermal power plants in India. Of these, 39 units with a capacity of 19,430 megawatts (MW) have completed installation. Contracts have been awarded and are under implementation for 238 units (105,200 MW), 139 units (42,847 MW) are in various stages of the tendering process, and 121 units (36,683 MW) are in the pre-tendering process. The breakdown of completed FGD installations is…

Solartive Techno Industries Private Limited, a manufacturer of solar pumps and an Engineering, Procurement, and Construction (EPC) contractor, has entered the power transmission and distribution (T&D) sector by securing a contract worth over Rs 2.3 billion from Jharkhand Bijli Vitaran Nigam Limited (JBVNL). The project involves electrifying 60,000 rural households in Chatra and Palamu under the Mukhyamantri Ujjawal Jharkhand Yojana, with completion set for two years. Survey work begins in August 2024, with execution starting…

Adani Power has reported a 55 per cent year-on-year decline in net profit, amounting to Rs 39 billion, compared to Rs 87.59 billion in the same period last year. Despite the profit drop, the company’s revenue increased by 36 per cent year-on-year, reaching Rs 147.17 billion from Rs 110.05 billion in the corresponding quarter of the previous year. Power demand across India continues to grow strongly, with aggregate demand rising by 10.6 per cent year-on-year…

Power Grid Corporation of India Limited (PGCIL) has emerged as the lowest bidder (L1) for the Transmission system for evacuation of power from Renewable Energy Zones (REZ) in Rajasthan (20 GW) under Phase-III Part I. REC Power Development & Consultancy Limited (RECPDCL), its bid process coordinator, will transfer the special purpose vehicle (SPV) Rajasthan Part I Power Transmission Limited to PGCIL upon completion of formalities. The project is estimated at Rs 127 billion and will…

Department of Atomic Energy (DAE) has highlighted India’s commitment to expanding its nuclear capabilities, noting that 9 nuclear power reactors with a total capacity of 7,300 MW are under construction, with plans for twelve more reactors underway. A greenfield facility of the Nuclear Fuel Complex (NFC) is being established at Rawatbhata, Kota, Rajasthan. This facility, including the PHWR Fuel Fabrication Facility (PFFF) and Zircaloy Fabrication Facility (ZFF), aims to produce 500 tons per year of…

Wardwizard Innovations & Mobility Limited reported its financial performance for Q1 FY25, ending in June 2024. The company’s revenue increased to Rs 489.68 million, a 29.23 per cent year-on-year growth. Standalone total revenues rose from Rs 378.93 million in the same quarter of the previous year, while EBITDA jumped 60.13 per cent to Rs 76.48 million, with an EBITDA margin of 15.62 per cent, up by 302 basis points. The profit after tax (PAT) was…