Shares in OPG Power Ventures (OPG) fell more than 20 per cent on Wednesday morning after the Indian energy group revealed it had made a loss in the six months to September 2017, as it continued to suffer from unexpectedly high coal prices. The group posted a pre-tax loss of £2.9m for the period, compared with £17.9m last year.
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The average landed cost of coal was Rs4,236 (£49) over the period, compared with Rs3,552 for the full year to March 2017. A Rs100 change in the price impacts the group’s annual cost of coal by around £3.5m.
