ReNew Energy reports 31% rise in Q2 net profit to Rs 4.4 billion

26 Nov 2024 CW Team

ReNew Energy Global Plc (ReNew) has reported a 31% increase in net profit for the September 2024 quarter, reaching Rs 4.93 billion, driven by higher income. This is a significant rise from the Rs 3.77 billion net profit recorded in the same quarter of FY24.

The company's total income for Q2 FY25 grew to Rs 29.88 billion, up from Rs 28.63 billion in the corresponding period last fiscal year.

For the first half of FY25, ReNew’s net profit stood at Rs 5.33 billion, compared to Rs 6.75 billion in H1 FY24. Total income for H1 FY25 was Rs 54.71 billion, slightly up from Rs 53.29 billion in H1 FY24.

As of September 30, 2024, ReNew's portfolio expanded to 15.6 GW, up from 13.8 GW a year earlier. Following the quarter, the company signed Power Purchase Agreements (PPAs) for an additional 0.7 GW, increasing its portfolio to 16.3 GW.

Commissioned capacity grew by 21.8% year-on-year to 10.1 GW as of September 30, 2024. Subsequent additions of 250 MW in solar capacity raised the total commissioned capacity to 10.4 GW. ReNew aims to complete between 1,900 MW and 2,400 MW of renewable energy capacity by the end of FY25, further solidifying its leadership in the renewable energy sector.

(Business Standard)

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