By PTI | New Delhi
ACME Solar Holdings Ltd has posted a more than seven-fold jump in its consolidated net profit to Rs 115.06 crore for the second quarter of this fiscal on higher revenue.
Its net profit stood at Rs 15.2 crore in the year-ago period.
Total income also more than doubled to Rs 601.36 crore in the July-September period of this fiscal from Rs 295.14 crore in the corresponding period of the preceding year, according to a regulatory filing on Monday.
Additionally, last month, ACME Solar Holdings announced commissioning of 28 MW first phase of its 100 MW wind power project in Gujarat.
With this, the company’s total operational capacity has increased from 2,890 MW to 2,918 MW, the company said in a statement.
The ACME Eco Clean wind project is located at Surendranagar in Gujarat.
The company is a part of the ACME Group, which was established in 2003, began as an energy management provider for the telecom sector.
The company later forayed into the renewable sector in 2009 and commissioned their first solar facility in 2012.
Presently, ACME Group is involved in clean energy innovation through a 1.2 GW solar PV module facility in Rajasthan, India and is a developer of Green Hydrogen and Ammonia projects in Duqm, Oman and Odisha, India.
Acme Solar Holdings Limited, a renewable energy independent power producer (IPP), manages a portfolio of 6.97 GW encompassing solar, wind, hybrid and firm & dispatchable renewable energy (FDRE) projects.
With integrated in-house capabilities, the company develops, builds, owns, and operates utility- scale projects generating clean electricity for a sustainable future.
Going into backward integration, ACME Group is setting up a 1.2 GW solar PV module manufacturing facility under MKU Holdings Private Limited at Jaipur, Rajasthan, India. Further, ACME Cleantech Solutions Private Limited manages the Green Hydrogen and Green Ammonia businesses with the first off-take agreement of 100 KTPA with Yara for the Oman project already in place.
Also Read: ACME Solar Orders Giant Battery Storage to Boost Renewable Energy Projects
