BPCL Secures 150 MW Solar Project in NTPC Tender

26 Dec 2024 , 05:15 PM

Bharat Petroleum Corporation Ltd, the state owned firm, emerges as low bidder for solar power tenders floated by NTPC across the country. Bharat Petroleum Corporation Ltd emerges successful bid in 150 MW capacities of 1200MW ISTS-connected Solar PV project offered by NTPC through a reverse auction.

It will be an execution within a span of two years upon signing the contract. This solar project will produce 400 million units of clean energy annually and will collect approximately ₹100 crore as revenue annually. This victory strengthens Bharat Petroleum Corporation Ltd’s stand towards renewable energy and the company’s efforts to embrace clean energy sources in India.

In terms of the performance in terms of financials, Bharat Petroleum Corporation Ltd declared a net profit of ₹2,397 crore for the July-September quarter. Net profit eased 20.5% compared with the March quarter. Revenue for June quarter stood at ₹1.03 lakh crore, narrowly missing its projected ₹1.05 lakh crore. It had declined 9.1% sequentially from June quarter.

EBITDA for the quarter came in at ₹4,547 crore. That means that EBITDA has crashed 19.5 percent QoQ from the number it reported in the prior quarter. EBITDA margin at the quarter stood at 4.4%.

On December 26, 2024, shares of Bharat Petroleum Corporation Ltd closed at ₹295 which is a 1.03% gain than the previous close. The share has gained a total of 30% in the last one year.