Gensol Engineering Ltd, a renewable energy and electric mobility company, announced its consolidated financial results for the first quarter ending June 30 of the fiscal year 2023-24.
Revenue for Q1 FY24 stood at INR 1,517 million, 47% up year-on-year from INR 1,029 million in Q1 FY23. EBITDA was up 179% YoY to INR 437 million. Profit after tax (PAT) for the quarter grew 2% YoY to INR 102 million.
Gensol Engineering offers engineering, procurement, and construction (EPC) services for developing solar power plants. It has installed ground-mounted and rooftop solar power plants with a combined capacity of over 590 MW. Expanding its operations, Gensol has also established an electric vehicle (EV) manufacturing facility in Pune, India, to develop and produce electric three-wheelers and four-wheelers.
In March this year, Gensol announced the acquisition of Pune-based Scorpius Trackers. The purchase allows Gensol Engineering to offer a comprehensive solar EPC package that includes Scorpius Trackers’ innovative solar tracking technology.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.