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OPG Power Ventures boasts “strong operational performance”

"We are pleased to have continued with our strong operational performance and maximised volumes from our Chennai plant,” said Arvind Gupta, OPG chairman

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OPG generated 1.55bn units in the half

OPG Power Ventures Plc (LON:OPG) chairman highlighted the “strong operational performance” for the Chennai plant as the company reported results for the six months to 30 September.

The company noted that it generated 1.55bn units in the half, up 9% from 1.42bn units in the comparative period of last year.

WATCH: OPG Power Ventures fired up and focused on profitable Chennai project

It reported a £6.5mln profit from continuing operations, from £2.1mln, helped by improved tariff prices and market coal prices.

READ: OPG Power shifts focus to Chennai and solar

Revenue totalled £77.9mln, up from £66.5mln, and the company reported earnings (EBITDA) of £14.4mln improved from £13.6mln. Pre-tax profit amounted to £7.3mln, compared to £4.2mln.

"We are pleased to have continued with our strong operational performance and maximised volumes from our Chennai plant,” said Arvind Gupta, OPG chairman.

Healthy operational performance, an increase in tariffs and continued reduction in coal prices keep us optimistic about the prospects for the company in FY19.

All these factors are expected to provide the basis for OPG to demonstrate robust profitability in FY19."

Quick facts: OPG Power Ventures PLC

Price: 12.5 GBX

AIM:OPG
Market: AIM
Market Cap: £50.09 m
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