ReNew Q2 results: Net profit slips 5% to ₹467.5 cr, revenue rises

ReNew on Monday reported over 5 per cent decline in its net profit to Rs 467.5 crore for the September quarter.

It had clocked a net profit of Rs 493.9 crore in the second quarter of FY25, the company said in a statement.

"Net profit for Q2 FY26 was Rs 4,675 million (USD 53 million) compared to Rs 4,939 million (USD 56 million) for Q2 FY25," ReNew said.

Its total income (or total revenue) for Q2 FY26 was Rs 3,855.7 crore (USD 434 million) compared to Rs 2,988.7 crore a year earlier.

The total revenue from solar module and cell manufacturing operations stood at Rs 10,12.8 crore in Q2 FY26.

The revenue from the sale of power was Rs 2,607.6 crore in the second quarter compared to Rs 2,600.8 crore in the year-ago period.

Adjusted EBITDA was Rs 2,624.0 crore against Rs 24,20.9 crore.

In H1 FY26, the company recorded a total income of Rs 7,971.5 crore compared to Rs 5,471.3 crore in the year-ago period.

Its net profit for H1 FY26 was Rs 980.6 crore against Rs 533.3 crore a year ago.

The revenue from the sale of power was Rs 5,154.8 crore in H1 FY26. It was Rs 4834.2 crore in the year-ago period.

The company reiterated its FY26 guidance and expects to complete the construction of 1.6-2.4 GWs by the end of fiscal year 2026.

ReNew said its adjusted EBITDA and cash flow to equity guidance for FY26 are subject to weather and resource availability.

The company continues to anticipate net gains in sales of assets, which is part of ReNew's capital recycling strategy, and has included Rs 100-200 crore related to asset sales in the adjusted EBITDA.

The company now expects external sales from our solar module and cell manufacturing to contribute Rs 1,000-1,200 crore of adjusted EBITDA.