Shares of Sterling and Wilson Renewable Energy (SW Solar) jumped 10% to hit the upper circuit at Rs 467.05 apiece on January 16 after the firm posted net profit of Rs 17.14 crore in Q3FY 25. The company saw a strong comeback from the Rs 62.39 crore loss it reported in Q3FY24.
Notably, the surge in share price comes a day after the stock hit a 52-week-low record of Rs 403.35. The stock is currently over 44% lower than its 52-week-high level of Rs 828
The company's revenue from operations also saw a significant jump, rising as much as 215% YoY to Rs 1,837.20 crore in Q3 FY25.
SW Solar also announced few changes to its leadership. Sandeep Thomas Mathew, who currently serves as the head of Investor Relations, has been appointed as the Interim Chief Financial Officer. He will hold the office till the time a new CFO is appointed by the board. The company, earlier in September 2024, had announced that its CFO Bahadur Dastoor has resigned.
Further, the company informed that Amit Jain has resigned from his position as the Global CEO of Sterling and Wilson Renewable Energy (SWREL) Group. Chandra Kishore Thakur, who currently leads the company's operations in Asia, Africa, LATAM and Europe, will replace Jain as SWREL Global CEO.
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