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INA Solar’s Half-Year Profit Surges 307 Percent to INR 61.27 Cr, Revenue Surpasses INR 600 Cr

Insolation Energy’s revenue surged to INR 612.69 crore from INR 280.06 crore in the same period last year, reflecting a growth of 118.77 percent.

November 07, 2024. By Abha Rustagi

Insolation Energy Ltd. (INA Solar) has announced its half-yearly financial results, showcasing a remarkable performance across key metrics. The company’s revenue surged to INR 612.69 crore from INR 280.06 crore in the same period last year, reflecting a robust growth of 118.77 percent.

Operational improvements have also contributed to an increase in EBITDA, which rose from INR 29.75 crore to INR 81.00 crore, marking a 172.27 percent growth. The operational performance translated into a substantial rise in profitability, with Profit After Tax (PAT) growing by an impressive 307.65 percent, up from INR 15.03 crore to INR 61.27 crore.

Furthermore, the company’s Earnings Per Share (EPS) increased from INR 7.22 to INR 29.41, achieving a 307.34 percent surge, highlighting the company’s commitment to delivering exceptional value to shareholders.

Chairman Manish Gupta and Managing Director Vikas Jain of INA Solar, stated, “We are pleased to report a strong performance for the first half of the fiscal year. Our strategic expansions and focus on innovation are yielding positive results, positioning us to capitalise on future growth opportunities. As we move forward, we remain committed to delivering long-term value to our stakeholders while supporting India’s clean energy ambitions.”

In addition to financial achievements, INA Solar is embarking on an expansion plan to meet India’s growing renewable energy needs. The company’s upcoming 3 GW solar module manufacturing facility in Jaipur will soon elevate INA to one of the largest solar panel manufacturers in the country, with a total module capacity of 4 GW expected to be operational by March 2025. In parallel, the company is setting up a 12,000 MT aluminum frame manufacturing unit, aligning with its commitment to innovation and sustainability.

Looking further ahead, by March 2026, INA Solar plans to launch a cutting-edge 1.5 GW solar cell manufacturing facility, consolidating its position as a dominant force in India’s green energy revolution.

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