QNet Probe

ACME Solar Holdings Ltd (ACME Solar) has posted a 1.5 per cent rise in consolidated net profit to Rs 114 crore in the December quarter, supported by higher revenues. It had reported a net profit of Rs 112 crore in the October-December period of preceding financial year, the company said in an exchange filing on Thursday. ACME Solar's total revenues surged 53.9 per cent to Rs 617 crore from Rs 401 crore in the year ago period. The company's expenses surged to Rs 615.60 crore from Rs 481.22 crore in the third quarter of FY25. The board also declared an interim dividend of Rs 0.20 per equity share having face value of Rs 2 each for the financial year 2025- 26. During the third quarter, the generated 1,567 million units (MUs) power, up 49 per cent from Q3 FY25 driven by higher CUF and new capacity addition. The company's Capacity Utilization Factor (CUF) increased to 24.3 per cent in Q3 FY26 from 22.7 per cent in Q3 FY25. Plant availability and grid availability were at 99.6 per ce

The Supreme Court has dismissed a plea of the government of Maharashtra seeking vacation of the stay granted by the same court earlier for pursuing investigation against the direct selling company QNet and its sub-franchisee Vihaan Direct Selling (India).The bench comprised Justice Rohinton Fali Nariman and Justice Sanjay Kishan Kaul rejected the appeal in which the government of Maharashtra had sought permission to file additional documents and thereby vacating stay."Upon hearing the counsel, the application for vacating stay is dismissed. Let the writ petition be set down for final hearing in the month of October 2017," the apex court said in its order dated July 10.Earlier on March 27, 2017, the Supreme Court had ordered a stay on all first information reports (FIRs) and proceedings against QNet's business in India. The order is seen as a positive development for the direct selling industry as it comes at a juncture when the government is trying to instill confidence in the ...