Swan Energy register Rs 22.34 crore net loss in March quarter

New Delhi: Swan Energy Limited has reported a net loss of Rs 22.34 crore in the March quarter on lower income.

Swan Energy, a diversified Indian conglomerate with operations spanning textiles, real estate, oil & gas and shipbuilding, had posted a net profit of Rs 55.58 crore in the fourth quarter of the preceding 2023-24 financial year, the company said in an exchange filing.

The company's revenues stood at Rs 882 crore during the January-March quarter against Rs 1,407 crore in the year-ago period.

The company registered 49 per cent growth in profit after tax to Rs 874 crore in FY25 compared to Rs 586 crore in FY24.

Its total income also grew by 35 per cent to Rs 6,884 crore in FY25 from Rs 5,100 crore in FY24.

Swan Energy said it has raised approximately Rs 3,320 crore through a qualified institutions placement (QIP) at an issue price of Rs 670 per share.

"The proceeds from this capital raise have been strategically allocated towards significant debt reduction initiatives across the group, substantially strengthening the company's financial position, enhancing its operational flexibility and supporting its long-term strategic objectives," it said.

Nikhil Merchant, Managing Director of Swan Energy Limited, said, "We have achieved our highest-ever revenue and profitability, marking a significant milestone in our journey".

"This accomplishment reflects the strength of our diversified business model and our ability to adapt and thrive in a dynamic economic landscape," he added.