Gensol Engineering Announces Outstanding Q4 Results and Triple Net Profit – Asia Pacific

In the fourth quarter of fiscal year 2024, Gensol Engineering Ltd. reported a 310 percent increase in consolidated net profit compared to the same period last year, as indicated by the publication of the company’s quarterly performance report.

According to a filing by the company, Gensol Engineering reported a profit after tax (PAT) of INR 34.82 crore as against INR 8.48 crore, an increase of 310 percent, in the corresponding quarter of the previous year. This significant increase in net profit highlights the company’s strong performance driven by higher revenues. Also on a quarterly basis, profit almost doubled from INR 17.54 crore. For the full year, the company saw its profit increase from INR 34.55 crore to INR 108.02 crore.

Total comprehensive income for January-March increased to INR 34.79 crore from INR 8.5 crore in the same quarter last year, an increase of over 300 percent. As of March 2024, Gensol Engineering boasted of an order book of INR 1,783 crore, including orders worth INR 1,448 crore especially from the solar segment.

The company generated total revenue of INR 904 crore for FY24, a 143 per cent increase from INR 371 crore in FY23, implying a profit before tax (PBT) of INR 108 crore, a significant increase from INR 34.55 crore in FY23, indicating a Growth of 212 percent.

Additionally, the company saw its profit after tax (PAT) increase to over INR 80 crore in FY24 as against INR 25 crore in FY23, reflecting a growth of 220%. On the back of an overall positive end to the financial year, earnings per share (EPS) increased by 207 percent to INR 21.35 crore in FY24 as compared to INR 6.95 crore a year ago.

Gensol Engineering is part of the Gensol group of companies offering engineering, procurement and construction (EPC) services for the development of solar power plants.