Sterling and Wilson settles Kenya tax demand for ₹2.66 crore
In short
Sterling and Wilson settled a Kenya tax demand of ₹26.5 crore for ₹2.66 crore, according to a market summary. The report says this cut the demand by nearly 90%. It also says the company was back in profit in the September quarter, even though revenue was lower.
This may ease a tax overhang for the renewable energy company. The reporting does not say when the deal was signed or whether any other issue is still open.
What the reporting says
Sterling and Wilson settled a ₹26.5 crore Kenya tax demand for ₹2.66 crore, according to the publisher-supplied market summary. The report says the settlement cut the demand by nearly 90% and also notes the renewable energy company returned to profit in the September quarter despite lower revenue. It is not stated in the available reporting when the settlement occurred or what part of the tax dispute remained unresolved.
Why it matters
Sterling and Wilson settled a Kenya tax demand for ₹2.66 crore against an original ₹26.5 crore claim, based on the publisher summary. The report says the demand was cut by nearly 90% and separately notes the company reported a return to profit in the September quarter despite lower revenue. The immediate effect appears to be reduced tax uncertainty, but the filing details and any remaining dispute are not stated.