Indosolar's Solar Surge: From Loss to Profit

Indosolar reported a net profit of Rs 9.48 crore for the September 2024 quarter, reversing a Rs 3.20 crore loss from the previous year. Total income soared to Rs 28.15 crore. The company appointed Amit Ashok Paithanar as CEO, highlighting its strategic focus on manufacturing solar cells.

Indosolar, a Waaree Group company specializing in the production of solar cells, has announced a significant financial turnaround for the September 2024 quarter. The company reported a net profit of Rs 9.48 crore, a stark contrast to the Rs 3.20 crore loss recorded during the same period last year.

This dramatic shift in fortune is largely attributed to a surge in total income, which rose to Rs 28.15 crore from a mere Rs 3 lakh a year ago. The growth underscores Indosolar's strengthening position in the renewable energy sector.

Additionally, Amit Ashok Paithanar has been appointed as the new Chief Executive Officer, effective immediately. This strategic leadership change is seen as a step forward in reinforcing Indosolar's commitment to expanding its influence in the solar industry.

(With inputs from agencies.)