Indian Power Corporation Ltd. Hit Profit Of Rs. 27 Crore In FY21

• ByStartupStory     |    June 12, 2021

On Saturday, India Power Corporation Ltd. Confirmed its profit after tax has seen a jump of 60% reaching Rs 26.66 crore in the fiscal year ended March 31, 2021. The company had recorded a profit of Rs. 16.69 crore in 2019-2020. The Kolkata-headquartered company is an integrated power utility with a distribution license covering 618 square kilometers in Asansol-Ranigunj region of West Bengal. It provides power to commercial, industrial and domestic consumers.

However, Indian power corporation Ltd sales have increased by 2 million units in 2020-21 despite the impact of the lockdown in the first two quarters of the financial year. “We were able to overcome the setback of the coronavirus pandemic by adding a large number of consumers across voltage levels, which resulted in accelerated sales growth from second quarter onwards. Our ability to procure power at competitive prices led to cost savings and further improved our earnings,” India Power Whole-time Director Somesh Dasgupta said.

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