ACME Solar Faces Profit Slump: Renewable Energy Outlook

ACME Solar Holdings reported a significant decline in net profit for the September quarter of FY25, with a 60% drop to Rs 15.29 crore due to reduced revenues. The company's total income also decreased, despite holding a diverse renewable energy portfolio and significant operational and construction capacities.

ACME Solar Holdings announced a steep drop in consolidated net profit for the September quarter of FY25, with earnings falling over 60% to Rs 15.29 crore. This decline has been attributed primarily to lower revenue streams.

In the same quarter of the previous year, the firm had registered a net profit of Rs 38.63 crore, according to a filing with the Bombay Stock Exchange (BSE).

The total income for the period also saw a decrease, slipping to Rs 295.14 crore from Rs 356.95 crore. ACME Solar maintains a diversified investment across solar, wind, hybrid, and Firm and Dispatchable Renewable Energy (FDRE) projects, remaining a leading independent power producer in India's renewable sector with significant capacities.

(With inputs from agencies.)