ReNew powers up profits: Reports Rs 3.7 bn net profit in Q2 2023

ReNew, a key player in the clean energy sector, announced a net profit of Rs 3.771 billion for the quarter ending September 2023, marking a significant turnaround from the Rs 986 million net losses reported during the same period in the previous fiscal year, as stated by the company. The company's total income witnessed a notable increase, reaching Rs 28,632 million compared to Rs 22,409 million in the corresponding quarter of the previous year. The adjusted EBITDA for the quarter was reported at Rs 21,298 million, surpassing the Rs 18,209 million recorded in Q2 FY23. As of September 30, 2023, ReNew disclosed that its portfolio had expanded to 13.8 GW, inclusive of both solar and wind capacities, up from 13.4 GW a year earlier.