Sterling and Wilson Renewable Energy Swings to Profit in June Quarter

Sterling and Wilson Renewable Energy Ltd reported a net profit of Rs 4.83 crore for the June quarter, a significant improvement from a net loss of Rs 95.32 crore in the same period last year, according to an exchange filing.

The company's total income rose substantially to Rs 927.89 crore from Rs 522.35 crore in the year-ago quarter. However, expenses also increased to Rs 913.23 crore, up from Rs 617.68 crore.

In a statement, Group Global CEO Amit Jain noted the company is well-positioned to maintain this positive trend and deliver enhanced value to stakeholders. Sterling and Wilson's current order book stands at Rs 2,170 crore, and net debt is at Rs 97 crore. The company specializes in renewable energy solutions, including utility-scale solar, floating solar, and hybrid energy storage.

(With inputs from agencies.)