IPCL on lookout for acquisition opportunity in renewables

India Power Corporation ( IPCL ) has floated a wholly owned subsidiary for acquiring or setting up green renewable energy projects.

India Power Green Energy Utility, a wholly-owned subsidiary of IPCL, was incorporated in December, 2015 with an objective of foraying into and acquiring green assets to build a sizable portfolio of green energy. 

The company registered a 32% rise in profit after tax to Rs 31.9 crore during the financial 2015-16 on the back of 5.5% rise in gross revenue. The company's gross revenue during the period was Rs 586 crore against Rs 618 crore registered during the previous period. 




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