Servotech Renewable Profit Doubles to Rs 7.71 cr in Q4

New Delhi, May 7 (PTI) Servotech Renewable Power System has posted a two-fold rise in net profit to Rs 7.71 crore in the March quarter, driven by higher revenues.

It had reported Rs 3.45 crore net profit in the January-March period of the preceding 2023-24 financial year, the company said in a filing on Wednesday.

The company's revenues increased 8 per cent to Rs 147.46 crore in the fourth quarter from Rs 136.65 crore in the same period last fiscal.

For the entire FY25, total revenue increased by 91 per cent to Rs 676.80 crore from Rs 355.26 crore in FY24.


Raman Bhatia, Managing Director, Servotech Renewable Power System said, "We have recorded robust growth, underpinned by our efforts to strengthen India's EV charging infrastructure and expand access to clean solar energy. These results reinforce our position as a frontrunner in the green energy transition and reflect the growing trust in our vision and capabilities."

The company aims to ramp up domestic manufacturing, scaling up innovations and taking the Made in India solutions to international markets, he said.

Servotech Renewable Power Systems on Monday announced the appointment of entrepreneur and global business strategist Errol Musk--father of billionaire Elon Musk, who owns Tesla, SpaceX, and the microblogging platform X -- to its Global Advisory Board.

As part of his engagement, Musk will participate in a tour of Servotech's manufacturing facilities in India. He will engage with key government and investor groups through curated roundtable sessions.

Servotech Renewable Power System Ltd is an NSE-listed company that develops tech-enabled EV charging solutions.