GIPL's Net Profit Declines 9% To Rs 27.91 Crore In December Quarter

Gujarat Industries Power Company Ltd (GIPL) on Monday reported a nearly nine per cent fall in its standalone net profit to Rs 27.91 crore for the December 2021 quarter, mainly due to lower revenues.

The company had reported a standalone net profit of Rs 30.60 crore in the quarter ended on December 31, 2020, according to a BSE filing.

Its total income during October-December 2021 stood at Rs 266.49 crore, compared with Rs 338.97 crore in the year-ago period.

The board in its meeting held on Monday also approved the appointment of Nitin Chandrashanker Shukla, Ravindra Harshadrai Dholakia and Mamata Biswal as additional directors (independent) for a period of five years, subject to the approval of the members of the company.

The board also approved the draft postal ballot notice to transact special business seeking shareholders' approval for the appointment of three independent directors through the postal ballot process.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor