ReNew Q1 Results: Net Profit Rises Multifold To Rs 513 Crore
The revenues from power sales surged to Rs 2,547.3 crore ($297 million) from Rs 2,233.5 crore ($260 million) for first quarter fiscal 2025.
Clean energy firm ReNew has posted a multifold growth in net profit to Rs 513.1 crore for the June quarter, driven mainly by higher revenues from power sales.
The homegrown company, listed on Nasdaq, had logged a net profit of Rs 39.4 crore in the April-June period of the preceding 2024-25 financial year.
In the first quarter, the company said its total income (or total revenue) rose to Rs 4,118.2 crore ($480 million), compared to Rs 2,490.3 crore ($290 million) for first quarter of fiscal 2025.
The revenues from power sales surged to Rs 2,547.3 crore ($297 million) from Rs 2,233.5 crore ($260 million) for first quarter fiscal 2025.
Total income (or total revenue) for first quarter fiscal 2026 from module and cell manufacturing operations was Rs 1,322.3 crore ($154 million). Net profit and Adjusted earnings before interest taxes depreciation and amortisation for first quarter finacial year 2026 from external sales from our module and cell manufacturing operations were Rs 356.2 crore ($42 million) and Rs 5,29.2 crore ($62 million), respectively. As of June 30, 2025, the company’s portfolio consisted of 18.2 GWs (+1.1 GWh battery energy storage system, compared to 15.6 GWs as of June 30, 2024.
In addition, the company has 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing, which is operational and is building a 4 GW cell manufacturing facility.
ReNew said its commissioned capacity has increased 14.8% year-over-year to 11.1 GWs (+150 MWh BESS) (net of 600 MWs of assets sold since Q1 FY25) as of June 30, 2025.
Subsequently, it commissioned an additional 50 MW in July 2025.
On its guidance for fiscal 2026, ReNew said it aims to complete the construction of 1.6 to 2.4 GWs of projects by the end of the ongoing fiscal year.
"The company’s Adjusted Ebitda and cash flow to equity guidance for fiscal 2026 are subject to weather and resource availability. The company anticipates continued net gains in sales of assets, which is part of Renew’s capital recycling strategy, and has included Rs 1-2 billion related to asset sales in the Adjusted Ebitda,"it said.
