SW Solar soars on reporting turnaround PAT of Rs 15 cr in Q3

Sterling and Wilson Renewable Energy surged 9.28% to Rs 464 after the company reported consolidated net profit of Rs 14.83 crore in Q3 FY25 as against net loss of Rs 63.67 crore in Q3 FY24.

Revenue from operations zoomed 215.19% year on year (YoY) to Rs 1,837.20 crore in the quarter ended December 2024.

The companys profit before tax was Rs 17.14 crore in the December 2024 quarter, as compared with a pre-tax loss of Rs 62.39 crore posted in the December 2023 quarter.

The company's revenue from EPC business was at 1,776.05 crore (up 238.06% YoY), while income from operation and maintenance service business stood at Rs 60.65 crore (up 5.5% YoY) during the period under review.

On a nine-month basis, the company reported consolidated net profit of Rs 26.07 crore in 9M FY25 as against net loss of Rs 213.37 crore in 9M FY24 FY22. Revenue from operations jumped 103.66% YoY to Rs 3,782.75 crore in the nine-month period ended on 31 December 2024.

Meanwhile, the board of directors appointed Sandeep Thomas Mathew, currently serving as head of investor relations, as interim chief financial officer (CFO) and key managerial personnel, effective from 16 January 2025, until a permanent CFO is appointed.

Further, Amit Jain has resigned as global chief executive officer (CEO) of the SWREL Group and Chandra Kishore Thakur, CEO Asia, Africa, LATAM, and Europe, will now be designated as Global CEO of the SWREL Group.

Sterling and Wilson Renewable Energy (SWREL) is a global pure-play, end-to-end renewable engineering, procurement and construction (EPC) solutions provider.

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