Recently, Gensol Engineering was awarded a Rs 463 crore solar power plant project at Khavda RE Power Park, Gujarat. | Photo: X@GensolGroup
Gensol Engineering on Monday posted a more than two-fold growth in standalone profit after tax (PAT) at Rs 32.5 crore for the quarter ended June 2024 on the back of higher revenues.
It had reported a PAT of Rs 12.3 crore in the April-June period of the previous financial year 2023-24, the company said in an exchange filing.
The company’s revenue rose to Rs 275 crore from Rs 147 crore in the same quarter last year.
Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Ltd, said, “Our performance in the first quarter of FY25 has been exceptional. Gensol is expanding its presence in existing and new business segments such as solar, battery energy storage systems (BESS) and electric vehicle leasing, which are poised for significant growth in the near future, thereby driving our overall profitability.”
The renewable energy space is experiencing rapid expansion, driven by rising demand for sustainable solutions and supportive government policies, he added.
Gensol Engineering was recently awarded a Rs 463 crore solar power plant project at Gujarat’s Khavda RE Power Park.
It is a leading player in the renewable energy sector, specialising in solar energy engineering, procurement and construction (EPC) services, along with electric mobility solutions.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 12, 2024 | 10:44 PM IS
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