Sterling & Wilson Renewable Energy Ltd (SWREL) announced a consolidated net profit of Rs 17.14 crore for the third quarter of FY25, a significant turnaround from the net loss of Rs 62.39 crore in the same period last year. The profit growth was driven by a substantial increase in revenues, as per the company’s filing with the BSE.
Total income for the quarter surged to Rs 1,842.67 crore, compared to Rs 610.31 crore in the corresponding period of the previous fiscal year. In addition, the board approved key leadership changes. Sandeep Thomas Mathew, currently serving as Head of Investor Relations, has been named interim Chief Financial Officer effective January 16, 2025, until a new CFO is appointed.
The company also announced that Amit Jain, Global CEO of SWREL Group, has resigned and will be relieved on February 28, 2025. He will be succeeded by Chandra Kishore Thakur, CEO for Asia, Africa, LATAM, and Europe, who will assume the role of Global CEO from March 1, 2025. “Our performance this quarter underscores the strength of our business model. We are focused on scaling operations and enhancing profitability,” Thakur said in a statement.
Sterling and Wilson Renewable Energy (SWREL) is a global leader in the renewable energy sector, specializing in the design, engineering, procurement, and construction (EPC) of solar power projects. With a strong presence in more than 25 countries, SWRE has successfully delivered large-scale solar energy solutions for commercial, industrial, and utility clients.
The company focuses on providing end-to-end solutions that not only help clients meet their renewable energy goals but also contribute significantly to reducing global carbon emissions. SWREL’s expertise spans the entire lifecycle of solar projects, from initial feasibility studies to post-installation operations and maintenance.
SWREL’s commitment to innovation and sustainability has solidified its position as a key player in the global clean energy landscape. The company has been involved in some of the world’s largest solar projects, consistently delivering high-quality, cost-effective, and reliable solutions.
Through its focus on engineering excellence, technological advancements, and a customer-centric approach, SWREL aims to drive the transition towards a greener, more sustainable energy future. The company’s operations are aligned with global trends of increasing renewable energy adoption, helping to power industries, communities, and nations with clean and efficient solar power solutions.
