Insolation Energy records sales of Rs 928 crore in 9M FY24

Insolation Energy said that it has achieved a consolidated provisional sales figure of Rs 928.34 crore for the nine months ended 31 December 2024, which is higher by Rs 482.5 crore as compared with the same period last year.

"This represents a growth of more than 92.40%, reflecting the strong execution of our strategic initiatives and the positive market dynamics, the company stated.

It further said that the EPC business, which had close to Rs 700 crore of order book, will also start contributing from Q4 of FY 2024-25. We are very excited about our upcoming 3GW capacity which is scheduled to commence commercial production from April 2025, this will increase our total capacity to 4GW, which will enable us to achieve larger revenues by capturing the robust demand.

We will look forward to increase revenue and profits substantially given our 4GW capacity increase in FY26, Insolation Energy said in a comment.

Insolation Energy is engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes.

The companys consolidated net profit zoomed 307.65% to Rs 61.27 crore on 119.83% increased in reveneue from operations to Rs 612.02 crore in Q2 FY25 over Q2 FY24.

The scrip slumped 7.66% to currently trade at Rs 3300 on the BSE.

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