OPG Power Ventures plc – 3Q FY20 Trading Update

OPG Power Ventures plc – 3Q FY20 Trading Update

Summary

For the nine months to 31 December 2019:

·   Total generation of 2.09 billion units (2.15 billion units for nine months FY19);

·   Plant Load Factor (“PLF”) at Chennai was 77% (79% for nine months FY19);

·   Average tariff for nine months FY20 was Rs 5.67 (Rs 5.33 for nine months FY 19);

·   £13.3m term loan principal repayment, representing 3.3 pence per share added in value to shareholders’ equity;

·   Gross debt reduced by 22 per cent to £62.5m (£80.4m at 31 March 2019);

·   FY19 full year scrip dividend of 0.6p per share (FY18: 1p per share) paid in January 2020.

Arvind Gupta, Executive Chairman, commented:

“We are pleased to report another strong operational performance for the first nine months of FY20 and we expect to meet market profit expectations for our full FY20 results.”

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