EPGL delivers strong half-yearly performance

Essar Power Gujarat Limited (EPGL), a subsidiary of Essar Power Limited, has recorded a 33 per cent growth in earnings before interest, taxes, depreciation and amortisation (EBITDA) in the half-year ended September 30, 2016 over the current fiscal. EPGL operates a 1,200 MW imported coal-fired thermal power plant at Salaya in Gujarat’s Devbhumi Dwarka district. The EBITDA for the first half of 2016-17 stood at Rs 3 billion as against Rs 2.26 billion in the same period in 2015-16. Meanwhile, revenues grew by 12 per cent to Rs 9.51 billion from Rs 8.51 billion in the corresponding period of the preceding year. The strong financial performance can be attributed to an improvement in all operational parameters and a decrease in input costs.