ReNew Q2 Results: Profit Rises 31% To Rs 440 Crore

ReNew Energy Global Plc. on Wednesday reported a 31% rise in net profit to Rs 493.9 crore ($59 million) in the Sept. 2024 quarter pushed by higher income.

It had posted a net profit of Rs 377.1 crore ($45 million) in the July–September period of the preceding 2023–24 fiscal, the Nasdaq-listed entity said in a statement.

ReNew's total income in the second quarter rose to Rs 2,988.7 crore ($357 million) from Rs 2,863.2 crore ($342 million) during the same period last financial year.

Net profit for April–September or H1FY25 was Rs 533.3 crore ($64 million), compared to Rs 675.4 crore ($81 million) for H1FY24.

Total income was Rs 5,471.3 crore ($653 million) during the period over Rs 5,329.1 crore ($636 million) for H1FY24.

As of Sept. 30, 2024, the company's portfolio consisted of 15.6 GW compared to 13.8 GW as of Sept. 30, 2023.

Subsequent to the end of the quarter, the company signed power purchase agreements for 0.7 GW of capacity, taking the portfolio to 16.3 GW.

ReNew's commissioned capacity has increased 21.8% year-on-year to 10.1 GWs as of Sept. 30, 2024.

Subsequent to the end of the quarter, the company commissioned 250 MWs of solar capacity, taking the total commissioned capacity to 10.4 GW.

The company expects to complete construction of between 1,900 MW and 2,400 MW of renewable energy capacity by the end of fiscal 2025.