ReNew Energy Global Achieves 31% Profit Surge Amidst Expanding Capacity

ReNew Energy Global Plc reported a 31% rise in net profit to Rs 493.9 crore for Q2 FY25, driven by increased income. The company's portfolio grew to 16.3 GW by signing new PPAs. Commissioned capacity rose to 10.4 GW with expectations to further expand by FY25 end.

ReNew Energy Global Plc recorded a significant 31% increase in net profit, reaching Rs 493.9 crore (USD 59 million) for the second quarter of fiscal year 2024-25. This rise is attributed to higher income, according to the company's statement released on Wednesday.

The Nasdaq-listed firm reported a net profit of Rs 377.1 crore (USD 45 million) for the same period in the previous fiscal year. ReNew's overall income for the quarter increased to Rs 2,988.7 crore (USD 357 million), up from Rs 2,863.2 crore (USD 342 million) year-over-year.

By September 30, 2024, ReNew's energy portfolio expanded to 15.6 GW, a rise from 13.8 GW a year prior. Following this quarter, agreements were signed, growing the total capacity to 16.3 GW. The company's commissioned capacity increased 21.8% year-on-year, now standing at 10.4 GW, with further expansions expected by fiscal year's end.

(With inputs from agencies.)