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Gensol Engineering Reports Stellar Q4 Performance with Tripled Net Profit

In Q4 of the financial year 2024, Gensol Engineering Ltd. experienced a 310 percent surge in its consolidated net profit compared to the same period last year, as indicated by the company's quarterly earnings report release.

May 29, 2024. By News Bureau

In Q4 of the financial year 2024, Gensol Engineering Ltd. experienced a 310 percent surge in its consolidated net profit compared to the same period last year, as indicated by the company's quarterly earnings report release.

According to a regulatory filing by the company, Gensol Engineering reported a profit after tax (PAT) of INR 34.82 crore compared to INR 8.48 crore, a 310 percent rise, in the corresponding quarter of the previous year. This substantial increase in net profit underscores the company's strong performance driven by higher revenues. On a quarter basis also, the profit almost doubled from INR 17.54 crore. For the complete year, the firm saw a rise in profit from INR 34.55 crore to INR 108.02 crore.

The total comprehensive income for the January-March period soared to INR 34.79 crore from INR 8.5 crore for the same quarter last year, marking over 300 percent increase. As of March 2024, Gensol Engineering boasted an order book valued at INR 1,783 crore, with INR 1,448 crore worth of orders specifically from the solar segment. 

The firm generated a total revenue of INR 904 crore for FY24, representing a 143 percent increase from INR 371 crore in FY23, making a Profit Before Tax (PBT) of INR 108 crore, a notable increase from INR 34.55 crore in FY23, indicating a 212 percent growth.

Further, the company saw its Profit After Tax (PAT) rise to over INR 80 crore in FY24, compared to INR 25 crore in FY23, reflecting a 220 percent increase. As a result of overall positive end of the financial year, the resultant Earnings Per Share (EPS) grew 207 percent  to INR 21.35 in FY24 compared to INR 6.95 a year earlier.

Gensol Engineering is a part of the Gensol Group of companies which offers Engineering, Procurement and Construction (EPC) services for the development of solar power plants.

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