Solex Energy Shines with Remarkable 390% Profit Surge

Solex Energy reported an impressive 390% increase in net profit for FY 2024-25, reaching Rs 42.79 crore due to higher revenues. Earnings Per Share rose by 301%, and consolidated revenues soared by 81%. This growth was driven by increased demand for solar modules, strategic EPC projects, and geographical expansion.

Solex Energy has reported a staggering 390% rise in net profit, reaching Rs 42.79 crore for the fiscal year 2024-25. The surge is attributed to a significant boost in revenues according to the financial report released on Tuesday.

The company's Earnings Per Share (EPS) showed a remarkable 301% year-on-year increase, climbing to Rs 43.82. This robust performance is underscored by a substantial 81% growth in consolidated revenues, amounting to Rs 665.82 crore from Rs 368.02 crore in the previous fiscal year.

The profitability boom is credited to the increased demand for solar modules, effective execution of large-scale EPC projects, and the company's strategic geographical expansion in states like Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan.

(With inputs from agencies.)