Solex Energy Q4 Profit Doubles to Rs 8 Crore - PTI
By Rediff Money Desk, New Delhi May 29, 2024 16:52
Solex Energy's Q4 profit more than doubled to Rs 8 crore on increased income, with total income surging to Rs 274.26 crore. The company plans to expand capacity to 4.5 GW and enter cell manufacturing.
![Solex Energy Q4 Profit Doubles to Rs 8 Crore - PTI](https://im.rediff.com/money/2018/mar/28solar.jpg)
New Delhi, May 29 (PTI) Solex Energy Ltd has said its profit more than doubled to Rs 8 crore in the March 2024 quarter, on increased income.
It had posted a profit of Rs 3.17 crore in the year-ago period, the company said in a regulatory filing on Tuesday.
The company's total income surged to Rs 274.26 crore as against Rs 144.24 crore in the January-March period of FY23.
Expenses were at Rs 264.05 crore as compared to Rs 139.80 crore a year ago.
"We have reported an outstanding year of financial performance and robust growth.
"We have kick-started the process of expanding (capacity) to 1.5 gigawatt (GW) with plans to eventually reach 4.5 GW and also enter into cell manufacturing over the next 2-3 years," Chetan Shah, Chairman and Managing Director of Solex Energy, said.
Gujarat-based Solex Energy is a leading solar module manufacturer having an annual capacity of 700 megawatt (MW) at its unit present in Tadkeshwar.
It had posted a profit of Rs 3.17 crore in the year-ago period, the company said in a regulatory filing on Tuesday.
The company's total income surged to Rs 274.26 crore as against Rs 144.24 crore in the January-March period of FY23.
Expenses were at Rs 264.05 crore as compared to Rs 139.80 crore a year ago.
"We have reported an outstanding year of financial performance and robust growth.
"We have kick-started the process of expanding (capacity) to 1.5 gigawatt (GW) with plans to eventually reach 4.5 GW and also enter into cell manufacturing over the next 2-3 years," Chetan Shah, Chairman and Managing Director of Solex Energy, said.
Gujarat-based Solex Energy is a leading solar module manufacturer having an annual capacity of 700 megawatt (MW) at its unit present in Tadkeshwar.
Source: PTI
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