Home › Business ›Gensol Engineering Records 47 Percent YoY Revenue Growth and EBITDA Surges by 179 Percent YoY in Q1FY24
Gensol Engineering Records 47 Percent YoY Revenue Growth and EBITDA Surges by 179 Percent YoY in Q1FY24
The Revenue for Q1FY24 at INR 1,517 million, up by 47 percent YoY from INR 1,029 million in Q1FY23. EBITDA for Q1FY24 at INR 437 million, up by 179 percent YoY from INR 157 million in Q1FY23. Profit after Tax (PAT) for Q1FY24 at INR 102 million, up by 2 percent YoY from INR 100 million in Q1FY23.
August 17, 2023. By EI News Network
Gensol Engineering Limited a developer of renewable energy & electric mobility facilitator , announced its consolidated financial results for the first quarter (Q1FY24) ended June 30, 2023.
The Revenue for Q1FY24 at INR 1,517 million, up by 47 percent YoY from INR 1,029 million in Q1FY23. EBITDA for Q1FY24 at INR 437 million, up by 179 percent YoY from INR 157 million in Q1FY23. Profit after Tax (PAT) for Q1FY24 at INR 102 million, up by 2 percent YoY from INR 100 million in Q1FY23.
Anmol Singh Jaggi, Managing Director, Gensol Engineering Limited stated, “We are pleased to announce a healthy performance in this quarter with consolidated revenue growth of 47% and EBITDA growth of 179% year on year. We, at Gensol, are well-positioned and beyond ready to capitalize upon the growing demand for renewable energy & electric mobility that India requires in its quest to be climate neutral by 2070. Our strong order book and healthy pipeline of projects reinforce Gensol’s position as a trusted partner and force multiplier for creating high-quality solar assets. We are confident that we can sustain our positive performance in the times ahead by continuing to invest in our capabilities and expanding our global footprint. Moreover, Gensol's recent listing on the main board of NSE portrays, in every imaginable dimension, our commitment towards transparency, growth, and delivering value to our stakeholders.”
Gensol Engineering Limited is a part of the Gensol group of companies and was founded in 2012.
The company offers engineering, procurement, and construction (EPC) services for developing solar power plants. Over the years, Gensol has successfully installed ground-mounted and rooftop solar power plants with a combined capacity of over 590 MW.
Expanding its operations, Gensol has also established a cutting-edge electric vehicle (EV) manufacturing facility in Pune, India, to develop and produce electric three-wheelers and four-wheelers. Alongside, Gensol serves all-inclusive EV leasing solutions and is catering to ride-hailing players with its buy-and-lease package of EV cars.
The Revenue for Q1FY24 at INR 1,517 million, up by 47 percent YoY from INR 1,029 million in Q1FY23. EBITDA for Q1FY24 at INR 437 million, up by 179 percent YoY from INR 157 million in Q1FY23. Profit after Tax (PAT) for Q1FY24 at INR 102 million, up by 2 percent YoY from INR 100 million in Q1FY23.
Anmol Singh Jaggi, Managing Director, Gensol Engineering Limited stated, “We are pleased to announce a healthy performance in this quarter with consolidated revenue growth of 47% and EBITDA growth of 179% year on year. We, at Gensol, are well-positioned and beyond ready to capitalize upon the growing demand for renewable energy & electric mobility that India requires in its quest to be climate neutral by 2070. Our strong order book and healthy pipeline of projects reinforce Gensol’s position as a trusted partner and force multiplier for creating high-quality solar assets. We are confident that we can sustain our positive performance in the times ahead by continuing to invest in our capabilities and expanding our global footprint. Moreover, Gensol's recent listing on the main board of NSE portrays, in every imaginable dimension, our commitment towards transparency, growth, and delivering value to our stakeholders.”
Gensol Engineering Limited is a part of the Gensol group of companies and was founded in 2012.
The company offers engineering, procurement, and construction (EPC) services for developing solar power plants. Over the years, Gensol has successfully installed ground-mounted and rooftop solar power plants with a combined capacity of over 590 MW.
Expanding its operations, Gensol has also established a cutting-edge electric vehicle (EV) manufacturing facility in Pune, India, to develop and produce electric three-wheelers and four-wheelers. Alongside, Gensol serves all-inclusive EV leasing solutions and is catering to ride-hailing players with its buy-and-lease package of EV cars.
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