ReNew Q2 results: Net profit at ₹377.1 crore
₹377.1 crore during the second quarter ended September 30 2023 on higher income. The clean energy company had reported a ₹98.6 crore net loss during the July-September period of the last fiscal year.
ReNew’s total income surged at ₹2,863.2 crore in the September quarter of FY24 from ₹2,240.9 crore in the year-ago quarter. The company said its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at ₹2,129.8 crore in Q2 FY24 as compared to ₹1,820.9 crore in Q2 FY23.
As of September 30, 2023, the Company’s portfolio consisted of 13.8 GWs, compared to 13.4 GWs as of September 30, 2022, of which 8.3 GWs are commissioned and 5.5 GWs are committed, said ReNew. The company on Monday also reported financial results for first half (H1) of the current fical year 2024.
Its total income for April to September FY24 stood at ₹5,329.1 crore, as compared to ₹4,741.6 crore in the year ago period. The company said its net profit for H1 FY24 stood at ₹675.4 crore as compared to a net loss of ₹109 crore in the year ago period.
For H1 FY24, ReNew’s adjusted EBITDA was reported at ₹3,989.7 crore, as against ₹3,836.6 crore in H1 FY23. Milestone Alert!
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