New Delhi, Jan 16 (PTI) Sterling and Wilson Renewable Energy Ltd (SWREL) on Thursday posted a consolidated net profit of Rs 17.14 crore for December quarter FY25 mainly on the back of higher revenues.
The company had incurred a net loss of Rs 62.39 crore in the year-ago, period, according to a BSE filing.
Total income rose to Rs 1,842.67 crore from Rs 610.31 crore in the same period a year ago.
The company's board also approved the appointment of Sandeep Thomas Mathew, currently holding the position of Head – Investor Relations, as the interim Chief Financial Officer with effect from January 16, 2025, till the time new CFO is appointed.
Further, the company informed the bourse that Amit Jain has resigned as Global CEO – SWREL Group. He will be relieved from his services on February 28, 2025. Jain will be replaced by Chandra Kishore Thakur, CEO – Asia, Africa, LATAM & Europe with, with effect from March 1, 2025.
"Our performance this quarter brings forth the resilience of our business model. We are significantly scaling up operations and focused on improving profitability," Thakur said in a statement.
SWREL is a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider.
The company provides EPC services for utility-scale solar, floating solar and hybrid & energy storage solutions and has a total portfolio of 21.7 GW.