ReNew reports profit in Q1 FY 2024


ReNew has announced results for the three months ended June 30, 2023 (Q1 FY 2024). The developer reported a net profit of INR 2,983 million ($36 million) for Q1 FY24 compared to a net loss of INR 104 million for Q1 FY23. 

Total income (or total revenue) for Q1 FY24 was INR 24,659 million ($300 million), compared to INR 25,007 million for Q1 FY23. 

As of June 30, 2023, the company has a renewable energy portfolio of 13.7 GW, which comprised 8.4 GW operating (including 415 MW commissioned in Q1 FY24) and 5.3 GW committed capacity.

The company expects to complete construction of 1,750 to 2,250 MW by the end of the current fiscal 2024. 

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