ReNew Energy's Q1 profit jumps to ₹513 crore on higher solar module sales
The renewable energy company's net profit was ₹ 39.4 crore in the April-June period a year ago.
Its total income jumped 65% year-on-year to ₹ 4,118.2 crore during the June quarter, the company said in a statement.
Revenue from sale of power stood at ₹ 2,547.3 crore ($297 million), compared to ₹ 2,233.5 crore ($260 million) in the April-June period of FY25.
Total income for Q1 FY26 from module and cell manufacturing operations was ₹ 1,322.3 crore ($154 million).
"Adjusted Ebitda (earnings before interest, taxes, depreciation, and amortization) for Q1 FY26 was ₹ 27,220 million ($317 million), as against ₹ 18,979 million ($221 million) in Q1 FY25," it said.
As of 30 June, the company's portfolio consisted of 18.2 GW of renewable energy capacity and 1.1 GWh battery energy storage solution (BESS) capacity. In addition, the company has 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing, which is operational and is building a 4 GW cell manufacturing facility.
"The company reiterates its FY26 guidance and expects to complete the construction of 1.6 to 2.4 GWs by the end of fiscal year 2026. The company's Adjusted EBITDA and cash flow to equity guidance for FY26 are subject to weather and resource availability," the company said in the statement.
In May, British International Investment (BII) invested $100 million in the solar module and cell manufacturing subsidiary of ReNew. The investment will be deployed towards adding 4 gigawatts of solar module and cell manufacturing capacity.
Last month, its promoters revised their offer to take the Nasdaq-listed renewable energy company private.
The consortium increased its offer price to $8 per share, payable in cash compared with the original offer of $7.07 per share. ReNew's shares traded little changed at $7.66 apiece in New York on Thursday.
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Business Standard
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Time of India
39 minutes ago
- Time of India
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- New Indian Express
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