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Home STOCKS GIPCL Q1 outcomes: Net profit down 28% to Rs 60.86 crore

GIPCL Q1 outcomes: Net profit down 28% to Rs 60.86 crore

NEW DELHI: Gujarat Industries Energy Enterprise Ltd (GIPCL) on Tuesday documented over 28 for each cent dip in its net profit to Rs 60.86 crore for the June quarter owing to reduced revenues. The net profit of the business was Rs 85.31 crore for the quarter ended June 30, 2019, the organization explained in a BSE filing
Whole income of the firm declined to Rs 343.09 crore in the claimed quarter from Rs 366.68 crore in the year-in the past period.
The board in its conference on Tuesday also approved the appointment of Manjula Subramaniam as an added director (Lady Unbiased Director) helpful August 18.
The company claimed barring any potential Covid-19 related escalations, based mostly on the present-day assessment, the administration is of the view that affect of the pandemic on the operations and the carrying value of its assets and liabilities is not probable to be material.
The enterprise is in the company of generation of electrical power which is an necessary company, it mentioned.
It has prolonged-term and medium-term power purchase settlement (PPA) and memorandum of endeavor with prospects and generated the electricity as for every PPA and terms and conditions of MoU for the duration of the lockdown time period, it additional.

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