New Delhi: Gensol Engineering Ltd reported a substantial increase in consolidated net profit for the March 2024 quarter, reaching INR 20 crore, driven by higher revenue. In comparison, the company had posted a profit after tax (PAT) of INR 7 crore in the same period the previous year, according to a regulatory filing.
The company’s total revenue surged to INR 412 crore during the January-March period, significantly up from INR 167 crore a year ago.
As of March 2024, Gensol Engineering’s order book stood at an impressive INR 1,783 crore, with INR 1,448 crore worth of orders coming from the solar segment.
“We continue to take strategic bets like Scorpius Trackers’s acquisition, Middle East entry, BESS (battery energy storage system) and we continue to expand into segments such as EV leasing and EV manufacturing,” stated Anmol Singh Jaggi, Managing Director of Gensol Engineering.
Gensol Engineering is part of the Gensol group, which provides EPC services for the development of solar power plants.
