Gensol Engineering Achieves Financial Growth with Strategic Solar Projects

Gensol Engineering reported a 6% rise in profit after tax, totaling Rs 18 crore in Q4, due to increased revenue. The company secured significant solar contracts, contributing to its growth. Revenue reached Rs 345 crore, aided by major projects in Gujarat worth over Rs 1,959 crore.

Gensol Engineering has reported a notable financial performance in the December quarter, with a 6% increase in its profit after tax, reaching Rs 18 crore. This growth has been attributed to a significant rise in the company's revenue.

According to the firm's statement, the revenue increased by 30% to Rs 345 crore compared to the same period last year, when it was Rs 266 crore. The earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to Rs 63 crore from Rs 53 crore year-on-year.

Enhancing its growth further, Gensol Engineering has secured a major EPC contract for a solar project in Gujarat. This includes a 275 MW Solar PV Project in the Khavda Rann of Kutch and another significant venture with NTPC Renewable Energy Ltd for a solar PV system at GSECL Solar Park, together valued at over Rs 1,959 crore.