Renew Energy Global Plc ( (RNW) ) has released its Q2 earnings. Here is a breakdown of the information Renew Energy Global Plc presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
ReNew Energy Global Plc is a prominent decarbonization solutions company with a significant global clean energy portfolio, specializing in renewable energy and related services.
ReNew Energy Global Plc recently released its financial results for Q2 FY25, showcasing a strong performance with a 31% year-over-year increase in profit after tax. The company continues to expand its renewable energy capacity and maintain its guidance for the fiscal year.
The company’s portfolio has grown to approximately 16.3 gigawatts (GWs), up from 13.8 GWs a year earlier, with a significant increase in commissioned capacity to around 10.4 GWs. Financially, ReNew reported a total income of INR 29,887 million (US$ 357 million) for Q2 FY25, reflecting a modest increase from the previous year. Notably, net profit rose to INR 4,939 million (US$ 59 million), while adjusted EBITDA also showed growth, reaching INR 24,209 million (US$ 289 million).
ReNew reiterated its fiscal year 2025 guidance, expecting to complete the construction of 1,900 to 2,400 megawatts by the year’s end. The management anticipates continued gains from asset sales, aligning with its capital recycling strategy, and maintains its outlook on adjusted EBITDA and cash flow projections.
Looking ahead, ReNew Energy Global Plc remains committed to expanding its renewable energy footprint and delivering on its strategic goals, with a focus on sustainable growth and capital efficiency.
