A positive development for the power major included module manufacturing hitting nearly 100 per cent capacity utilisation. The board has approved an investment proposal for a 1GW pumped storage project (PSP).
The consolidated operating profit of ₹3,740 crore in Q2FY25, was driven by ramped-up solar manufacturing and operational efficiency. Revenue was at ₹15,690 crore (flat Y-o-Y) for Q2FY25. The adjusted net profit (APAT) was at ₹1,070 crore, a rise of 20 per cent Y-o-Y. In H1FY25, net sales were at ₹32,990 crore, with operating profit at ₹7,330 crore and APAT was at ₹1890 crore, up 7 per cent, 21 per cent and up 11 per cent Y-o-Y, respectively. The H2FY25 is expected to be much stronger with revenues climbing by 40 per cent Y-o-Y, according to some analysts, along with similar gains in operating profit and net profit. Importantly, S&P Global Ratings, ICRA and CARE, have all upgraded ratings, which will lower interest costs.
This story is from the November 01, 2024 edition of Business Standard.
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This story is from the November 01, 2024 edition of Business Standard.
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