Servotech Power Systems Reports Tremendous Profit Surge, Unveils New Energy Solutions

Servotech Power Systems reported a three-fold rise in net profit for September's quarter, reaching Rs 11.24 crore, due to increased income. The company also launched new solar energy solutions aligning with government schemes to promote sustainable farming and reduce carbon footprint.

Servotech Power Systems has announced a substantial increase in its consolidated net profit, witnessing a more than three-fold rise to Rs 11.24 crore for the September quarter. This significant growth is attributed to the company's increased income in the same period.

Comparatively, the company's net profit stood at Rs 3.12 crore in the July-September span of the previous fiscal year, as per its exchange filing. Total income also demonstrated robust growth, more than doubling to Rs 200.06 crore from Rs 86.59 crore during the same period last year.

In addition, Servotech Power Systems unveiled an innovative range of solar energy solutions, aiming at the residential and commercial rooftop markets. The array includes solar on-grid inverters and battery energy storage systems, designed to align with governmental renewable energy schemes and support sustainable farming.

(With inputs from agencies.)