H1 Results: Insolation Energy Reports 25% Surge In Revenues

Indian solar module manufacturer Insolation Energy has reported its financial results for the first half (H1) of the current financial year, posting higher revenue and profit on a year-on-year basis.

The company told the exchanges that its consolidated revenue for the period stood at Rs 773.35 crore, compared with Rs 616.85 crore in the same period last year, marking a 25% YoY increase.

Net Profit Rises 

Net profit rose to Rs 80.01 crore, up from Rs 64.65 crore in H1 of the previous financial year, reflecting a 23.5% YoY growth.

The company managed to increase its profit despite higher expenses, driven mainly by a rise in material costs and higher financial charges linked to changes in inventories of finished goods.

Insolation Energy also reported higher revenue and profit compared to its performance in H2 of the previous year. The firm recorded an increase in both non-current and current assets, along with a rise in non-current and current liabilities.