Gensol Engineering Q4 Profit Jumps to Rs 20 Cr | Higher Revenue

New Delhi, May 28 (PTI) Gensol Engineering Ltd on Tuesday reported a nearly three-fold jump in its consolidated net profit to Rs 20 crore during the March 2024 quarter, on account of higher revenue.

It had posted a profit after tax (PAT) of Rs 7 crore in the year-ago period, the company said in a regulatory filing.

The company's total revenue also rose to Rs 412 crore in the January-March period as against Rs 167 crore a year ago.

As of March 2024, the company said it had an order book of Rs 1,783 crore, of which Rs 1,448 crore worth of orders are from the solar segment.

"We continue to take strategic bets like Scorpius Trackers's acquisition, Middle East entry, BESS (battery energy storage system) and we continue to expand into segments such as EV leasing and EV manufacturing," Anmol Singh Jaggi, Managing Director of Gensol Engineering, said.

The company is a part of the Gensol group of companies which offers EPC services for the development of solar power plants.