Vikram Solar reports Rs 133 cr net profit in Q1

New Delhi, Sep 10 (PTI) Vikram Solar, a manufacturer of photovoltaic modules, has reported a multi-fold rise in consolidated net profit to Rs 133.4 crore for the June quarter, backed by higher revenues.

The company, which made its market debut around two weeks back, said its net profit or profit after tax (PAT) was Rs 22.8 crore in the April-June period of the preceding 2024-25 financial year.

Its revenue for Q1 FY26 grew by 79.7 per cent year-on-year to Rs 1,133 crore from Rs 630.9 crore a year ago, the company said in its first earnings report on Tuesday, after listing.

The company's order book stands at 10.96 GW as of June 30.

Vikram Solar CMD Gyanesh Chaudhary said FY26 has begun on a strong note, reflecting robust growth across revenue, profitability, and margins. Besides revenue, EBITDA has grown by an impressive 117.3 per cent to Rs 242.2 crore.

"On the capex front, we are scaling our manufacturing capacities by 4x, supported by a buoyant demand environment. Additionally, we are strategically backwards integrating into solar cell manufacturing, which gives us supply chain security and cost competitiveness and strengthens our position across the value chain," he said.

Kolkata-headquartered Vikram Solar is one of the largest PV module manufacturers in India with a cumulative production capacity of 4.5 GW.

On August 26, shares of Vikram Solar made a tepid market debut on the exchanges on Tuesday, listing with a premium of over 2 per cent against the issue price of Rs 332.

The stock opened for trading at Rs 338 apiece, up by 2.41 per cent on the NSE.

On the BSE, the stock listed at Rs 340, up by 1.81 per cent.

Later, it surged by 13.43 per cent each to hit a high of Rs 376.60 per piece on the bourses. PTI ABI ABI BAL BAL