ReNew Energy on Wednesday reported a surge of 31% in its net profit for the second quarter of the current financial year at Rs 493.9 crore. It had reported a Rs 377.1-crore profit in the corresponding quarter of the last fiscal.
The company’s adjusted Ebitda came in at Rs 2,420.9 crore against Rs 2,129.8 crore in Q2FY24.
Total income or total revenue for the quarter stood at Rs 2,988.7 crore, up 4.4% compared to Rs 2,863.2 crore in the same period of FY24.
As of September 30, the company’s portfolio consisted of 15.6 GW of capacity compared to 13.8 GW as of September 30 last year. Subsequent to the end of the quarter, the company signed power purchase agreements (PPAs) for around 0.7 GW of capacity, taking the portfolio to 16.3 GW, it said.
ReNew’s commissioned capacity has increased 21.8% year-on-year to 10.1 GW as of September 30. The company commissioned 250 MW of solar capacity, taking the total commissioned capacity to 10.4 GW by the end of the September quarter.
The company has reiterated its FY25 guidance and expects to complete construction of around 1,900 MW to 2,400 MW by the end of the current financial year. “The company’s adjusted Ebitda and cash flow to equity guidance for FY25 are subject to weather being similar to FY24,” it said.
The company anticipates adjusted Ebitda of Rs 7,600-8,200 crore in FY25 and cash flow to equity at Rs 1,200 -1,400 crore.