ACME Solar Shares Locked In Upper Circuit After Q3 Profit More Than Doubles
Topline growth was just 5.2% to Rs 349 crore, while operating profit rose 10.8% to Rs 307 crore and Ebitda margin improved to 88% against 83.6%.
Share price of ACME Solar Holdings Ltd. surged to hit upper circuit limit on Wednesday after eight consecutive sessions of decline as the newly listed company's net profit jumped massively by 152% year-on-year in the December quarter.
Topline growth was just 5.2% to Rs 349 crore, while operating profit rose 10.8% to Rs 307 crore and Ebitda margin improved to 88% against 83.6%. Net profit for the reporting quarter was at Rs 112 crore against Rs 44.4 crore last year.
On a sequential basis, net profit jumped over 600%. Net debt to net worth stood at 1.6 times as of Q3 FY25, primarily on account of repayment of debt from IPO proceeds, the company said.
In an exchange filing, the company said, "We are committed to driving growth, enhancing executional and operational efficiency, and delivering exceptional value to our stakeholders."
"With growing demand for renewable energy and strong support from both the government and other stakeholders, we are well-positioned to capitalise emerging opportunities," it added. "This momentum is expected to drive sustained revenue growth as more projects become operational in the years ahead.”
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The stock rose on Wednesday after hitting Rs 167.75, its lowest level since its listing on Nov. 13, 2024.
Acme Solar Share Price Today
Shares of the company rose as much as 10% to Rs 191.23 apiece, its upper circuit limit, compared to a 0.5% advance in the NSE Nifty 50.
The stock has risen 18.85% on a year-to-date basis. Total traded volume so far in the day stood at 2.3 times its 30-day average. The relative strength index was at 35.7.
