Servotech Renewable Power System Ltd News

Servotech Renewable Power Q3 results: Net profit grows to Rs 8 cr

Servotech Renewable Power System on Tuesday reported a manifold rise in its consolidated net profit to nearly Rs 8 crore in the December quarter, pushed by higher revenues. It had posted a net profit of Rs 1.11 crore during the October-December period of 2023-24 financial year, the company said in a regulatory filing. The company's total revenue rose over four-fold to Rs 216.83 crore from Rs 52.20 crore a year ago. Expenses too jumped to Rs 204 crore against Rs 50.34 crore in the same period of the preceding fiscal. Servotech Renewable Power System is a leader in tech-enabled EV charging and solar solutions. In a separate statement, the company's Managing Director Raman Bhatia said the quarter experienced stellar growth. "As a market leader in India's EV charging sector, currently holding a 35-40 per cent market share, we are strategically positioned to capture 50-55 per cent by manufacturing 12,000 direct current (DC) fast chargers in FY25, meeting the rapidly surging demand for

Servotech Power rises 5% on bagging order of agriculture pumps from UP govt

Shares of Servotech Power Systems rose 4.99 per cent at Rs 169.41 a piece on the NSE in Monday's intraday trade

Servotech Power Systems rallies 5% on joining hands with German Co; details

The electronic vehicle (EV) charger manufacturer, has entered into a strategic partnership with a German enterprise

Servotech Power Systems Q2 results: Net profit grows to Rs 11.2 cr

Servotech Power Systems on Monday reported over three-fold rise in consolidated net profit at Rs 11.24 crore in September quarter, aided by higher income. Its "net profit for the period" was at Rs 3.12 crore in the July-September period of preceding 2023-24 fiscal, the company said in an exchange filing. The company's total income rose over two-fold to Rs 200.06 crore from Rs 86.59 crore in the year-ago period. In the April-September, the company has reported a two-fold rise in net profit to 15.73 crore from Rs 7.23 crore recorded in the six-month period last fiscal. In a separate statement, the company said it has introduced a new range of energy solutions. "High-tech range of solar on-grid inverters, solar hybrid inverters, solar micro inverters, battery energy storage systems, and solar pump controllers have been brought in alignment with schemes like PM Surya Ghar Muft Bijli Yojana and PM-KUSUM Scheme," the company said. The solutions targeting residential and commercial roof

Servotech ties up with Ensmart Power to expand EV charger business in UK

Servotech Power Systems on Wednesday announced its collaboration with UK-based Ensmart Power to expand EV (electric vehicle) Charger business in the UK and beyond. This agreement will capitalise on the rapid growth of electric vehicle adoption in these regions, the company said in a statement. By combining Servotech's innovative EV charging solutions with Ensmart Power's expertise in energy storage and distribution, the partnership aims to provide a reliable and accessible charging infrastructure for consumers, it stated. According to the statement, Servotech Power Systems Ltd, a leading EV charger manufacturer, and UK-based Ensmart Power, a pioneer in critical power, solar, and energy storage systems, have signed a sole distribution agreement to expand their EV charger distribution network across the UK and beyond, including North America. The collaboration will drive the development of green mobility alternatives, contributing to a carbon-neutral transportation ecosystem and sett

Servotech Power gets order to set up 9 EV charging stations in Maharashtra

Servotech Power Systems on Monday said it has secured an additional order in Maharashtra to set up nine EV charging stations. With this, the total number of EV charging stations set up by the company will reach 29. The additional orders have been secured from Nashik Municipal Corporation (NMC), the company said in a statement. "Previously, the company had received an order from NMC which involved supplying, commissioning, and constructing 20 EV charging stations throughout the corporation area," it said. This order will meet the growing need for convenient electric vehicle (EV) charging infrastructure and ensure consumers a clean energy supply for intercity and interstate travel, Sarika Bhatia, Director of Servotech Power Systems, said. Servotech Power Systems is a listed entity that develops tech-enabled EV charging and solar solutions.