Monnet Ispat posts net detriment of Rs 358.60 crore in Jun quarter

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New Delhi: Monnet Ispat and Energy Wednesday reported a standalone net detriment of Rs 358.60 crore for a entertain finished Jun 30, 2016-17.

The organisation had clocked a net distinction of Rs 473.91 crore in a April-June duration of final financial year.

ReutersReuters

Reuters

Monnet pronounced in a BSE filing that a sum standalone income also declined to Rs 420.62 crore in a initial entertain of a stream fiscal, as opposite Rs 691.05 crore in a year-ago period.

In March, a company’s shareholders authorized a offer to sell Monnet’s interest in a energy auxiliary organisation — Monnet Power Company Ltd (MPCL).

MPCL, in that Monnet has 87.5 percent stake, is environment adult a 1,050 MW ability thermal energy plant in Angul (Odisha).

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Its ability is serve being lifted to 1,710 MW by adding additional 660 MW (super vicious turbine) during a same site, as per a information on MIEL’s website.

The association batch rose 0.89 per cent to settle during Rs 22.75 every on BSE.

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