Borosil Renewables’ Net Profit Jumps by 323% YoY basis

Financial results of the third quarter ending December 31 have been announced by Borosil Renewables. The company has declared that the net profit surged 332.23% to Rs 45.73 crore in the quarter ended December 2021 as against Rs 10.58 crore during the quarter that ended December 2020.

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The total sales of Borosil Renewables rose by 20.25% to Rs 168.51 crore in the quarter ending December 2021 as against Rs 140.13 crore during the December quarter of 2020.

The December 2021 quarter also saw the net profit swell by Rs. 11.62 crore against the quarter ending in September 2021 that had a net profit of Rs 34.11 crore.

The company has posted in the financial results that the total profit for the first nine month of this fiscal year stands at Rs 119 crore. This is more than five times higher than Rs 22.7 crore clocked in the first nine months of 2020 fiscal year.

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Borosil Renewables is the first and only solar glass manufacturer in India that delves in manufacturing a range of lab ware, scientific ware, and consumer ware products. The company had recently expanded the existing production capacity to 2.5 GW per year. It has an aim to add another 2.5 GW equivalent and be a 5.0 GW equivalent solar glass manufacturer.

Recently, the industry major has added three new quality products to its offering – Selene which is an anti-glare solar glass suitable for PV installations near airports, Shakti which is a high-efficiency solar glass in the matt-matt finish and a solar glass with anti-soiling coating.