Latest News | Acme Solar Holdings Q1 Net Profit Jumps Manifold to Rs 131 Cr
Get latest articles and stories on Latest News at LatestLY. Acme Solar Holdings on Friday posted a multifold jump in its consolidated profit to Rs 131 crore in the June quarter, driven by higher revenues and improved operational efficiencies.
New Delhi, Jul 25 (PTI) Acme Solar Holdings on Friday posted a multifold jump in its consolidated profit to Rs 131 crore in the June quarter, driven by higher revenues and improved operational efficiencies.
The company had clocked a profit after tax of Rs 1 crore in the April-June period of 2024-25.
Total revenue stood at Rs 584 crore in the first quarter of the ongoing fiscal, up 72 per cent from Rs 340 crore in the year-ago period.
The company's chairperson and MD Manoj Kumar Upadhyay, said, 'We are proud to report another strong quarter, marked by robust financial performance and meaningful operational progress. We remain confident in our long-term growth trajectory and are committed to delivering sustainable value to all stakeholders."
The company commissioned projects of 350 MW, including 300 MW Sikar (solar) contracted with SECI, 50 MW Pokhran (wind) - the company's first wind project contracted with GUVNL.
The operational capacity stands at 2,890 MW, up 115.7 per cent from Q1 FY25.
Total under-construction portfolio stands at 4,080 MW plus 550 MWh of standalone BESS (battery energy storage system), the company said.
The company signed PPAs for 250 MW FDRE (firm and dispatchable renewable energy), 300 MW Solar and 550 MWh standalone battery projects leading to over 55 per cent of UC capacity that is PPA signed.
Acme Solar generated 1,636 million units (MUs) power in Q1 FY26 up 107.1 per cent from Q1 FY25 driven by higher CUF and new capacity addition.
Capacity utilisation factor (CUF) has increased from 27 per cent in Q1 FY25 to 28.5 per cent in Q1 FY26.
ACME Solar Holdings Limited is a renewable energy company with a portfolio across solar, wind, storage, hybrid and FDRE projects.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)