Nasdaq-listed ReNew Energy Global posts profit of Rs 414 crore in FY24
It said with the company signing 2.2 GW of power purchase agreements (PPAs) towards the end of the financial year, its portfolio has grown to 15.6 GW, as of May 2024
 "Nasdaq-listed ReNew Energy Global posts profit of Rs 414 crore in FY24")
NASDAQ listed ReNew Energy Global Plc reported a net profit of Rs 414 crore during financial year 2023-24 (FY24). In FY23, it had reported a loss of Rs 502 crore.
The Gurgaon-based green energy solution company said its portfolio consisted of 13.5 gigawatts (GWs) of projects out of which 9.5 GWs are generating revenue and balance are committed, as on March 31 2024.
It said with the company signing 2.2 GW of PPAs towards the financial year end, its portfolio has grown to 15.6 GW, as of May 2024.
Total income for FY24 was Rs 9,653 crore compared to Rs 8,930 crore for FY23. The adjusted EBITDA for FY24 was Rs 6,921.6 crore, against Rs 6,200 crore for FY23.
“The company’s adjusted EBITDA and cash flow to equity guidance for FY25 are subject to weather being similar to FY24. The company anticipates continued net gains on sales of assets, which is part of ReNew’s capital recycling strategy, and has included Rs 1-2 billion of gains in the guidance,” said a public statement of ReNew.
The company expects to reach gross operating capacity of 15 to 16 GWs by the end FY 2027 and 19-20 GW, after capital recycling, by FY 2029, it said.