Gensol Engineering was locked in an upper circuit of 5% to Rs 948.95 after the company announced that it has recorded the highest ever revenue surpassing Rs 960 crore in the financial year ended on 31 March 2024.
The revenue represents a growth rate of 141% compared to Rs 398 crore posted in the previous financial year.Anmol Singh Jaggi, chairman and managing director of Gensol Engineering said, This financial performance of the company reflects robust and commendable growth trajectory exceeding the guidance given in our last earnings conference call in January 2024. This achievement solidifies our status as a frontrunner in the renewable energy industry, emphasising our unwavering commitment to growth.
Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.
The company reported a consolidated net profit of Rs 13.12 crore in Q3 FY24 as against a net loss of Rs 1.90 crore. Revenue from operations stood at Rs 220.25 crore in Q3 FY24, steeply higher from Rs 50.79 crore in Q3 FY23.
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