ReNew Energy Global Plc (ReNew) announced a 31% increase in net profit for the second quarter of FY25, reaching Rs 493.9 crore (USD 59 million), driven by higher income. This marks a significant rise from the Rs 377.1 crore (USD 45 million) recorded in the same period of FY24, according to the Nasdaq-listed company.
Total income for the July-September 2024 quarter climbed to Rs 2,988.7 crore (USD 357 million), compared to Rs 2,863.2 crore (USD 342 million) during the corresponding period of the previous fiscal year. For the first half of FY25, ReNew reported a net profit of Rs 533.3 crore (USD 64 million), lower than Rs 675.4 crore (USD 81 million) in H1 FY24. Total income for the same period rose to Rs 5,471.3 crore (USD 653 million) from Rs 5,329.1 crore (USD 636 million).
As of September 30, 2024, ReNew’s portfolio expanded to 15.6 GW, up from 13.8 GW a year earlier. Following the quarter’s close, the company signed Power Purchase Agreements (PPAs) for an additional 0.7 GW, pushing the total portfolio to 16.3 GW. Commissioned capacity grew 21.8% year-on-year to 10.1 GW by the end of Q2, with an additional 250 MW of solar capacity added post-quarter, bringing the total to 10.4 GW.
ReNew aims to complete construction of 1,900 MW to 2,400 MW of new renewable energy projects by the close of FY25. This strong performance underscores ReNew’s continued leadership in the renewable energy sector and its commitment to advancing India’s clean energy goals.
ReNew Energy Global Plc is a leading renewable energy company dedicated to driving India’s transition to sustainable energy solutions. Founded in 2011, ReNew specializes in wind, solar, and hybrid power projects, offering clean energy to industries and utilities across the country. With a growing portfolio that stood at 16.3 GW as of 2024, including over 10 GW of commissioned capacity, the company is a significant contributor to India’s renewable energy goals.
Listed on Nasdaq, ReNew is at the forefront of innovation, leveraging advanced technologies to optimize energy production and efficiency. Committed to environmental stewardship and energy security, ReNew Energy continues to shape a cleaner, greener future.
