OPG Power Ventures: Trading Update

29th April 2019 | OPG Power Ventures

OPG (AIM: OPG), the developer and operator of power generation plants in India, announces its trading update in respect of the full year ended 31 March 2019 (“FY19”).

Summary

For the full year ended 31 March 2019:

  • Profits are expected to be in line with market expectations
  • Total generation (including deemed) of 2.71 billion units, down 2 per cent from FY18
  • Plant Load Factor (“PLF”) at Chennai was 75% compared with 77% in FY18
  • Average tariff was Rs5.41, up 10 per cent from FY18 as a result of tariff increases during the year for captive customers
  • £20.6 million (Rs1.86 billion) of term loan principal repayments made, reducing term loans balance to £69.9 million (Rs6.31 billion) at 31 March 2019

Arvind Gupta, Executive Chairman of OPG, commented:

“We are pleased to report continued strong operational performance in FY19 and expect to report profits for our FY19 results to be in line with expectations”

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