Solex Energy's Profit Surge: A Power Move in Renewable Growth

Solex Energy reported a multi-fold increase in net profit, reaching Rs 13 crore in FY25's first half. The surge is attributed to higher income, with total income rising to Rs 274.16 crore. The company plans significant investments in renewable energy to expand its manufacturing capacity.

Solex Energy has reported a significant rise in its consolidated net profit, recording Rs 13 crore for the first half of FY25, thanks to a substantial increase in income.

In a regulatory filing, the company revealed a net profit of Rs 0.73 crore for the same period last year, with total income climbing to Rs 274.16 crore, compared to Rs 93.75 crore in the previous year.

According to Chetan Shah, Chairman and Managing Director of Solex Energy, the company is focused on expanding its operations and innovations to satisfy India's growing demand for clean energy. As part of its Vision 2030 strategy, Solex plans to invest USD 1 billion and expand its module manufacturing capacity from 1.5 GW to 15 GW, representing an Rs 8,000 crore investment.

(With inputs from agencies.)