Gensol Engineering posts Rs 10.2 crore net profit in June quarter

Gensol Engineering Ltd on Monday reported a consolidated net profit of Rs 10.2 crore for the June quarter.

It had clocked Rs 10 crore net profit in the year-ago period, the company said in a regulatory filing. The company’s revenues also increased to Rs 151.7 crore in the first quarter of the current fiscal from Rs 102.9 crore in the year-ago period. The Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) was Rs 43.7 crore, up from Rs 15.7 crore.

"We reported a healthy performance this quarter with consolidated revenue growth of 47 per cent and EBITDA growth of 179 per cent year-on-year with strong order book and a healthy pipeline of projects," Gensol Engineering Managing Director Anmol Singh Jaggi said. Gensol Engineering Ltd is a part of the Gensol group of companies, offering engineering, procurement, and construction services for the development of solar power plants. Shares of the company closed at Rs 1,830.35 apiece on the BSE, up 5 per cent from its previous close.