Wind power company Mytrah Energy Ltd has announced a robust performance for the nine-month period ended December 31, 2012, logging a turnover of $38.91 million (about Rs 233 cr).
The profit after tax for the nine months was $12.02 million (Rs 72 crore).
The company closed the last financial year, ended March 31, 2012, with a modest turnover of $6.97 million (Rs 42 crore) and a loss of $2.83 (Rs 18 crore) million.
The Hyderabad-based wind power generation company is listed on the AIM of the London Stock Exchange. It now has an installed capacity of 310 MW and expects to take this up to 600 MW by December this year.
In a statement, Vikram Kailas, Chief Financial Officer, said, “The project development strategy and impeccable execution by the team, will propel to achieve a capacity of 1,500 MW by 2015.” In March, the company secured $203 million (Rs 1,211 crore) of additional senior debt to finance the construction of 238.2 MW of new capacity. This has been split between two projects in Andhra Pradesh and Karnataka. totalling 137.7 MW. and one project of 100.5 MW in Tamil Nadu.
With the completion of these projects by December, the company will have a capacity of 600 MW connected to the grid across 16 project sites in six States.
Ravi Kailas, Chairman, said: “The company’s ability to manage development risk will enable the group to rapidly grow and generate significant value to shareholders.”
rishikumar.vundi@thehindu.co.in