Swan Energy Ltd. reported a significant boost in its financial performance for the first quarter of the fiscal year. The company’s net profit surged by 85% to ₹267.7 crore for the quarter ending in June, up from ₹144.8 crore in the same period last year, according to a stock exchange announcement on Wednesday.
Revenue for the quarter increased by 42% year-on-year, reaching ₹1,141.7 crore compared to ₹804.3 crore during the corresponding period of the previous fiscal year. Operating income also saw a substantial rise, growing 60% to ₹380.9 crore. The company’s EBITDA margin improved to 33.4%, up from 29.5% in the previous year.
In a recent board meeting, Nikhil Merchant and Paresh Merchant were reappointed as managing director and whole-time director, respectively, for a three-year term starting September 1. Despite the strong earnings report, Swan Energy’s shares closed 1.45% lower at ₹672.20 on the BSE, while the Sensex posted a modest gain of 0.19%.
Swan Group operates across various industries, including textiles, real estate, oil and gas, and petrochemicals. Recently, the company expanded into shipbuilding, ship repair, and heavy fabrication through its acquisition of RNEL, a shipyard.
