Swelect Energy Systems Net Surges 38.8% in Dec Quarter

Swelect Sets Sights on Coimbatore to Make Solar Panels

Swelect Energy’s net profit jumps 83.2 per cent to Rs 6.65 crore in December quarter of FY18, as compared to its net profit of Rs 3.63 crore in September quarter of FY18.

Solar power products manufacturer, Swelect Energy Systems Ltd has reported a significant growth of 38.8 per cent in its standalone net profit after taxes (PAT) at Rs 6.65 crore for the third quarter ended December 31, 2017, mainly on account of rise in its sales.

“The standalone net profit after taxes (PAT) of the company stood at Rs 4.79 crore during the corresponding quarter a year ago,” said Swelect Energy Systems Ltd in a filing to the Bombay Stock Exchange.

Moreover, Swelect Energy’s net profit jumps 83.2 per cent to Rs 6.65 crore in December quarter of FY18, as compared to its net profit of Rs 3.63 crore in September quarter of FY18.

It’s standalone net sales jumped by 51.6 per cent to Rs 42.85 crore during Oct-Dec quarter of FY 2017-18, as against Rs 28.26 crore during the same period last year.

During the quarter under review, the company’s standalone total income grew by 35.8 per cent to Rs 51.35 crore during the third quarter of FY18, as compared to Rs 37.81 crore during the same period last year.

Besides, the total expenses of the solar products manufacturer grew by 34.5 per cent to Rs 42.65 crore, as against Rs 31.71 crore during the same quarter previous fiscal.

SWELECT Energy Systems Ltd was formerly known as Numeric Power Systems Ltd. It is one of the leading solar power systems company with a strong presence in global energy market for over 30 years.