Surana Solar Turns Profitable in Q2, Revenue Rises to Rs 1,454 cr
Surana Solar reports a Rs 32.69 lakh net profit in Q2 FY24, driven by higher revenues. Total income rose to Rs 1,454.01 crore, a significant increase from the previous year. The company also announced plans to raise Rs 200 crore through equity issuance.
New Delhi, Oct 21 (PTI) Surana Solar on Monday posted a Rs 32.69 lakh net profit in the September quarter mainly on the back of higher revenues.
The company had reported a loss of Rs 145.47 lakh in the quarter ended on September 30, 2023, a BSE filing showed.
Total income rose to Rs 1,454.01 crore in the quarter from Rs 308 lakh in the same period a year ago.
The board also approved a proposal for raising up to Rs 200 crore by way of issuance of equity shares/ convertible instrument and any other instrument by way of private placement, qualified institutions placement, preferential issue or any method or combination of methods in one or more tranches, subject to approval of shareholders.
The board has also considered making Surana Technologies Private Limited a wholly-owned subsidiary to execute various solar projects.
They also approved the appointment of Vempati Venkata Nagasri Durga Raja Sriramya as Company Secretary and Compliance Officer of the Company from October 21, 2024.
The company had reported a loss of Rs 145.47 lakh in the quarter ended on September 30, 2023, a BSE filing showed.
Total income rose to Rs 1,454.01 crore in the quarter from Rs 308 lakh in the same period a year ago.
The board also approved a proposal for raising up to Rs 200 crore by way of issuance of equity shares/ convertible instrument and any other instrument by way of private placement, qualified institutions placement, preferential issue or any method or combination of methods in one or more tranches, subject to approval of shareholders.
The board has also considered making Surana Technologies Private Limited a wholly-owned subsidiary to execute various solar projects.
They also approved the appointment of Vempati Venkata Nagasri Durga Raja Sriramya as Company Secretary and Compliance Officer of the Company from October 21, 2024.
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