ReNew reports multifold growth in Q1 net profit to Rs 513 cr

New Delhi, Aug 14 (PTI) 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 (USD 480 million), compared to Rs 2,490.3 crore (USD 290 million) for Q1 FY25.

The revenues from power sales surged to Rs 2,547.3 crore (USD 297 million) from Rs 2,233.5 crore (USD 260 million) for Q1 FY25.

Total income (or total revenue) for Q1 FY26 from module and cell manufacturing operations was Rs 1,322.3 crore (USD 154 million). Net profit and Adjusted EBITDA for Q1 FY26 from external sales from our module and cell manufacturing operations were Rs 356.2 crore (USD 42 million) and Rs 5,29.2 crore (USD 62 million), respectively. As of June 30, 2025, the company’s portfolio consisted of 18.2 GWs (+1.1 GWh battery energy storage system (BESS), 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 per cent 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 FY26, 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 FY26 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. PTI ABI ABI DR DR