Sterling & Wilson Renewable Q1 Results: Net profit at Rs 4.83 crore vs loss a year ago

Reliance New Energy Ltd backed Sterling and Wilson Renewable Energy reported a net profit of Rs 4.83 crore for this fiscal year's April to June quarter. The company had reported a net loss of Rs 95 crore in the April to June quarter of last fiscal year.

Revenue for the quarter increased 77% to Rs 915 crore against Rs 515 crore in the June quarter of last fiscal.

Ebitda came in at Rs 24.7 crore from a loss of Rs 37.4 crore during the year-ago period.


"With a robust project pipeline and strong balance sheet, we are confident of tapping the huge growth and are well-positioned to continue this upward trajectory and deliver enhanced value to all our stakeholders," Global CEO Amit Jain said.

In a press statement, Sterling & Wilson said that order inflow during the quarter stood at Rs 2,170 crore from five new projects, mostly from repeat customers with huge expansion plans.

Net debt at the end of the June quarter stood at Rs 97 crore, down from the Rs 116 crore recorded at the end of the March quarter.

Segment-wise, the company's EPC business reported revenue of Rs 858.6 crore from revenue of Rs 467.5 crore last year, while the operations and maintenance services business reported revenue of Rs 56.5 crore from Rs 47.5 crore last year.

The company's scrip ended at Rs 678.85, down 2.12% on the BSE, Thursday.