Gensol Engineering recently bagged a Rs 463 crore solar plant project at Gujarat’s Khavda RE Power Park.
New Delhi: On Monday, Gensol Engineering announced a more than two-fold increase in standalone profit after tax (PAT), reaching Rs 32.5 crore for the quarter ending June 2024, driven by higher revenues. This marks a significant rise from the ₹12.3 crore PAT reported during the same period in the previous financial year, 2023-24, as stated in the company’s exchange filing.
The company’s revenues surged to Rs 275 crore from Rs 147 crore in the year-ago quarter.Gensol Engineering Ltd Chairman and Managing Director Anmol Singh Jaggi said, “Our performance in Q1 FY25 has been exceptional. Gensol is expanding its presence in current and new business segments like Solar, BESS (battery energy storage systems) & EV Leasing, which are poised for significant growth in the near future, boosting our overall profitability”.
The renewable energy space is experiencing rapid expansion, driven by increasing demand for sustainable solutions and supportive government policies, he added. Gensol Engineering recently bagged a Rs 463 crore solar plant project at Gujarat’s Khavda RE Power Park.
It is a leading player in the renewable energy sector, specialising in solar power engineering, procurement and construction (EPC) services, along with electric mobility solutions.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
Also Read:
