OPG Power cuts into loans balance following tariff increases

29th Apr 2019 08:59

(Sharecast News) - Indian power plant developer and operator OPG Power Ventures expects full-year profits to be in line with market expectations for the twelve months ended 31 March.Average tariffs came to Rs 5.41 (£0.06), up 10% as a result of tariff increases for captive customers during the year.Total power generation came to 2.71bn units, down 2% year-on-year, while plant load factor at its Chennai operations dipped from 77% in the year ended March 2018 to 75%.Elsewhere, OPG made £20.6m-worth of term loan principal repayments during the year, reducing its term loans balance to £69.9m.Chairman Arvind Gupta said: "We are pleased to report continued strong operational performance in FY19 and expect to report profits for our FY19 results to be in line with expectations."As of 0900 BST, OPG shares had slipped 3.70% to 19.50p.