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ACME Solar Holdings Q4 results: Net profit dips 77% to Rs 122 crore

ACME Solar Holdings has reported a more than 77 per cent dip in consolidated net profit to Rs 122 crore for the March quarter, mainly due to an exceptional gain in the year-ago period. In January-March FY24, the company had reported an exceptional gain of Rs 696 crore from the divestment of 369 MW of operational solar assets in Punjab, Uttarakhand, and Karnataka, it said. The company had clocked Rs 532.3 crore net profit in Q4 FY24 on account of the exceptional gain. However, the company increased its total income to Rs 539.2 crore in the fourth quarter from Rs 318 crore in the year-ago quarter, a BSE filing said on Monday. As per the filing, its finance costs increased to Rs 205.5 crore from Rs 177.3 crore in the January-March period of FY24. Depreciation and amortisation expenses also rose to Rs 102.2 crore from Rs 61.2 crore in Q4 FY24. For the entire FY25, the net profit rose to Rs 250.8 crore from Rs 697.7 crore in FY24. In a separate filing, the company said its wholly-owned subsidiary ACME Sikar Solar Private Ltd commissioned Phase-II of a 112.5 MW solar project in Bikaner, Rajasthan. With this, ACME Sikar Solar Private Ltd has achieved a commissioned capacity of 165 MW out of 300 MW, and the balance capacity is under commissioning. Meanwhile, in a statement, the company said it divested 369 MW of its operational assets in Q4 FY24, which resulted in a one-time exceptional gain of approximately Rs 696 crore. Net debt stood at Rs 7,507 crore as of FY25. ACME Solar Holdings is a leading integrated renewable energy player with a diversified portfolio of 6,970 MW spanning solar, wind, FDRE and hybrid solutions. The company is one of the top 10 renewable energy Independent Power Producers in India with an operational capacity of 2,705 MW and under-construction capacity of 4,265 MW.