Ministry of Mines launches 9th Tranche of Critical Mineral Block Auction (See 'Corp Brief') Union Health Minister reviews progress of AIIMS Awantipora; directs expeditious completion (See 'Corp Brief') A & C - Clause 26 of Special Conditions of Contract operates as express contractual bar within meaning of Section 31(7)(a) of the Act, thereby prohibiting arbitral tribunal from awarding pre-reference & pendente lite interest: SC (See 'Legal Desk') Ministry of Textiles successfully concludes Special Campaign 6, achieving significant milestones in Swachhata and Sustainability (See 'Corp Brief') BRE Summit & Expo 2026 reinforces India's Position as Major Global Force in Renewable Energy: Joshi (See 'Corp Brief') A&C - Petitioner's deliberate omission of material bank account & failure to disclose operational details, even upon specific judicial inquiry, constitutes incomplete compliance with Rule 41(2) - exercise of discretion under Rule 41(3) to issue arrest warrants is justified: HC (See 'Legal Desk') CCI approves subscription of securities of Gentari Renewables India by Sapphire US HoldCo (See 'Corp Brief') CCI approves acquisition of business of Deutsche Bank by Kotak Mahindra Bank (See 'Corp Brief') MoRTH, Bihar sign MoU for Scientific Desilting of Water Bodies (See 'Corp Brief') NITI Aayog and GIZ India sign Implementation Agreement to accelerate Road Freight Decarbonisation (See 'Corp Brief') Union Sports Minister Launches NDTL Extramural Research Grant Policy (See 'Corp Brief') PBPT - Intention behind benami arrangement may be inferred from surrounding circumstances & material on record, even where such intention is not established through direct evidence: Tribunal (See 'Legal Desk') RM calls for balancing operational requirements with research freedom to drive innovation (See 'Corp Brief') APEDA facilitates export of 1.3 MT of Sinduri Pomegranates from Kullu to Dubai (See 'Corp Brief') India elected President of ISA for the 3rd consecutive term: Minister (See 'Corp Brief') Competition Act - Relief being of the nature of final relief cannot be sought at a stage when the matter is being investigated by the DG: CCI (See 'Legal Desk') National Orientation Programme for Tribal Healers on Public Health held in Hyderabad (See 'Corp Brief') CSIR-NIScPR organises third International Conference on Dissemination of Traditional Knowledge (See 'Corp Brief') A&C - Judicial intervention in arbitral proceedings is warranted only in exceptional cases, such as where party is left remediless under the statute or where clear bad faith is established: HC (See 'Legal Desk') WCL emerges as Growth Engine of Coal India, Records Strong Growth in Production (See 'Corp Brief') DPIIT implements Special Campaign to minimise Pendency Across Offices (See 'Corp Brief') SEBI ACT - Provisions of SEBI (Prohibition of Insider Trading) Regulations are violated where an employee of the Company, possessed & communicated Unpublished Price Sensitive Information regarding its forthcoming financial results to an outsider who then traded in company's shares based on such information: SAT (See 'Legal Desk') CCI approves acquisition of certain stake in Vodafone Group PLC by Vega SAS (See 'Corp Brief') CCI approves acquisition of equity of Solenergi Power by Aditya Birla Renewables (See 'Corp Brief') CCI approves acquisition of certain shareholding in Navi Ltd by MIH Payments (See 'Corp Brief') Insolvency and Bankruptcy Code, 2016 - A post-admission settlement can automatically bypass statutory mechanism mandated under Section 12A of the IBC, 2016, particularly in light of stringent amended provisions governing withdrawal of admitted applications: NCLAT (See 'Legal Desk') CCI approves acquisition of equity share capital of IntelliSmart Infrastructure by Adani Energy (See 'Corp Brief') CCI approves merger of Sapphire Foods India with and into Devyani International (See 'Corp Brief') 87 Crores Individuals Screened for Oral, Breast and Cervical Cancers (See 'Corp Brief') Insolvency and Bankruptcy Code, 2016 - Liquidator's claim for refund cannot be adjudicated in the summary jurisdiction under Section 60(5) of the Code, more so where the parties' claims have not been crystallised through adjudication: NCLT (See 'Legal Desk') India-BLEU Joint Economic Commission Session Held in Luxembourg (See 'Corp Brief') India to promote South-South Cooperation and share Agricultural Innovations (See 'Corp Brief') Companies Act, 2013 - Pendency of challenge to a judgment before a Division Bench does not extinguish its binding force, where judgment is neither set aside nor stayed: HC (See 'Legal Desk') Of 137 commercial mines allocated since 2020, 25 are producing (See 'Corp Brief') MoS releases Foreign Language Compendium of DRDO Products for engagement with international partners (See 'Corp Brief') Trade Marks Act, 1999 - Court's intervention is needed where the parties furnish affidavits making undertakings that effectively resolve the issues at hand: HC (See 'Legal Desk') An unsuccessful 'success fee' litigation (See CORP EINSICHT)

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Solar Energy Corporation declares its Financial Results

Published: Aug 08, 2024

By TIOLCorplaws News Service

NEW DELHI, AUG 08, 2024: SOLAR Energy Corporation of India Limited (SECI), one of the leaders in the Renewable Energy (RE) domain, has declared the Financial Results for FY24 on 02nd August 2024.

In FY24, SECI has awarded 8440 MW of RE tenders comprising of Solar, Wind and Hybrid power, which brings the cumulative awarded capacity to 65317 MW.

There has been an increase in annual trading volume by 22.13% over previous year with 42935 million units of electricity being traded.

On standalone basis, the Total Income of the company was Rs 13,135.80 Crore as against the previous year figure of Rs 10,864.43 Crore, registering an increase of 20.91%.

SECI has witnessed an increase of 38.14% in Profit After Tax (PAT) by recording Rs 436.03 Crore in FY24 as compared to the previous year's value of Rs 315.65 Crore

On a consolidated basis, the Profit After Tax (PAT) of the group for FY24 was Rs 510.92 Crore as against the corresponding previous year PAT of Rs 378.77 Crore, registering an increase of 34.89%

The Net Worth of the company stood at Rs 2,811.76 Crore as compared to the figure of Rs 2,376.31 Crore for the previous year, registering an increase of 18.32%.

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