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ReNew Energy Growth Amidst Net Profit Dip
Company Announcements

ReNew Energy Growth Amidst Net Profit Dip

ReNew Energy Global (RNW) has released an update.

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ReNew Energy Global Plc reported a 14% year-over-year growth in commissioned capacity, reaching around 10 GWs as of August 2024, alongside a revenue increase for Q1 FY25 to approximately $274 million from $255 million in Q1 FY24. Despite these gains, net profit for the quarter fell sharply to $5 million from the previous year’s $36 million, primarily due to asset sales, lower plant load factors, and increased expenses. The company reaffirms its fiscal year 2025 guidance, projecting substantial growth in construction and adjusted EBITDA.

For further insights into RNW stock, check out TipRanks’ Stock Analysis page.

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