Gensol Engineering Q3 Profit Rises to Rs 18 Cr

New Delhi, Feb 11 (PTI) Gensol Engineering on Tuesday reported over 6 per cent rise in consolidated profit after tax to Rs 18 crore in the December quarter, on account of increased revenue.

It posted Rs 17 crore PAT in the year-ago period, the company said in a statement.

The company's total revenue increased 30 per cent to Rs 345 crore from Rs 266 crore in the same quarter a year ago, it said.

Its EBITDA stood at Rs 63 crore during the quarter compared to Rs 53 crore a year earlier.

During the quarter, Gensol Engineering won a major EPC contract from a well-known Public Sector Undertaking for the development of a 275 MW Solar PV Project at RE Solar Park, Khavda Rann of Kutch, Gujarat.

The total bid value is around Rs 1,061.97 crore (including GST), which also covers three years of operation and maintenance (O&M).

It also secured a major contract with NTPC Renewable Energy Ltd to develop a 225MW-AC (276 MWDC) solar PV system at GSECL Solar Park, Gujarat, worth Rs 897.47 crore, the statement added.