In Q4, Sterling & Wilson Renewable Energy reported a net profit of Rs 1.40 crore

In Q4, Sterling & Wilson Renewable Energy reported a net profit of Rs 1.40 crore

The company's overall revenue climbed to Rs 1,211.40 crore in the fourth quarter of FY24 from Rs 86.36 crore the previous year.

The reporting quarter's costs came to Rs 1,177.66 crore, compared to Rs 503.88 crore for the same time in the previous fiscal year.

Due to higher revenue, Sterling & Wilson Renewable Energy Limited (SWREL) reported a net profit of Rs 1.40 crore for the quarter that ended in March 2024. In the January–March quarter of the previous 2022–2023 fiscal year, it had declared a net loss of Rs 421.11 crore, the business said in an exchange filing on Saturday.

The firm announced that its net loss for the whole fiscal year of FY24 decreased from Rs 1,174.96 crore in FY23 to Rs 210.79 crore. The company's overall revenue climbed to Rs 1,211.40 crore in the fourth quarter of FY24 from Rs 86.36 crore the previous year. While revenue increased from Rs 2,125.87 crore in the previous fiscal year to Rs 3,120.79 crore for the whole fiscal year.

The reporting quarter's costs came to Rs 1,177.66 crore, compared to Rs 503.88 crore for the same time in the previous fiscal year. Expenses in FY24 were Rs 3,293.11 crore, compared to Rs 2,304.61 crore in the previous fiscal year. The business said in a presentation to investors that as of March 2024, it has unexecuted orders worth Rs 8,084 crore, as opposed to orders at Rs 4,913 crore in March 2023.

Throughout the quarter, the business got new orders totaling Rs 488 crore. The amount came about as a result of the business being named the nation's lowest bidder for a second floating solar module project. In Q4, Enfinity placed the company's second overseas order, worth 20 million euros, for a balance of system project in Italy. "We have received total orders/LOI (letter of intent) in 13 projects worth Rs 6,023 crore in FY24 compared with fresh order inflow of Rs 4,387 crore in FY23," the business said.

In FY24, total net debt was Rs 116 crore, compared to Rs 1,966 crore the previous year. The business said that, at Rs 585 crore as opposed to Rs 445 crore in the fiscal year 2022–2023, its net working capital is still negative.