Servotech Power Systems reported a surge in its consolidated net profit on Monday, with earnings climbing over three-fold to Rs 11.24 crore for the September quarter, supported by higher income. In the same period last fiscal year, the company’s net profit was at Rs 3.12 crore, as per an exchange filing.
The company's total income also saw a substantial increase, rising over two-fold to Rs 200.06 crore, compared to Rs 86.59 crore in the year-ago period.
For the April-September period, Servotech recorded a two-fold increase in net profit, reaching Rs 15.73 crore from Rs 7.23 crore in the corresponding six months of the previous fiscal year.
In a separate statement, the company announced the launch of a new range of energy solutions.
“The high-tech range includes solar on-grid inverters, solar hybrid inverters, solar micro inverters, battery energy storage systems, and solar pump controllers, all aligned with government schemes like PM Surya Ghar Muft Bijli Yojana and PM-KUSUM Scheme,” the company said.
These solutions, aimed at the residential and commercial rooftops segment, will also enable farmers to utilise solar energy, supporting sustainable farming practices.
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