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Business EconomyPosted at: Nov 20 2024 2:07PM


ReNew records 31 pc rise in Q2 profit to Rs 494 crore

New Delhi, Nov 20 (UNI) Nasdaq-listed green energy company ReNew on Wednesday reported a 31% year-on-year rise in net profit to Rs 493.9 crore for July-September quarter (Q2) of the current financial year 2024-25.
The company had posted a profit of Rs 377.1 crore in the Q2 of the previous financial year 2023-24.
ReNew's total income (or total revenue) for the September quarter of the current financial year stood at Rs 2,988.7 crore, up 4.38% as compared to Rs 2,863.2 crore in the corresponding period of the previous financial year.
In a media release, the company said that its commissioned capacity has increased 21.8% year-over-year to 10.1 Gigawatt (GW) as of September 30, 2024.
"Subsequent to the end of the quarter, the company commissioned 250 MWs of solar capacity, taking the total commissioned capacity to 10.4 GWs," ReNew said.
As of September 30, 2024, the ReNew’s portfolio consisted of 15.6 GWs, compared to 13.8 GWs as of September 30, 2023. Subsequent to the end of the quarter, the company signed power purchase agreements (PPAs) for 0.7 GWs of capacity taking the portfolio to 16.3 GWs.
The company reiterated its FY25 guidance and expects to complete construction of between 1,900 to 2,400 MWs by the end of fiscal year 2025.
"The company’s adjusted EBITDA and cash flow to equity guidance for FY25 are subject to weather being similar to FY24," it said.
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Tags: #ReNew records 31 pc rise in Q2 profit to Rs 494 crore
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