Acme Solar Holdings Ltd shares hit a 10% upper circuit after the company reported a significant year-over-year (YoY) jump in net profit for the December quarter, reaching ₹112 crore. In the same period last year, the company posted a net profit of ₹44 crore.
The Gurugram-based renewable energy firm saw its revenue from operations rise to ₹349 crore in Q3FY25, compared to ₹332 crore in Q3FY24. At 1:23 PM on January 29, Acme Solar’s shares were trading 10% higher at ₹191.65 apiece on the BSE.
In its stock exchange filing, the company attributed the revenue growth to the phased commissioning of its 1,200 MW SECI ISTS project. The EBITDA margin improved to 90% in Q3FY25, up from 85% in Q3FY24, due to favourable operating leverage. Meanwhile, the profit after tax (PAT) margin surged to 28% in Q3FY25, compared to 12% in the same quarter of the previous fiscal year.
Over the years, Acme Solar has expanded beyond solar power projects to become an integrated renewable energy company in India. The company develops, builds, owns, operates, and maintains large-scale renewable energy projects through its in-house engineering, procurement, and construction (EPC) division, along with its operations and maintenance (O&M) team.
Acme Solar generates revenue by selling electricity to various off-takers, including both central and state government-backed entities, reinforcing its position as a key player in India’s renewable energy sector.
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Published on: Jan 29, 2025, 1:34 PM IST
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