ReNew Q2 Results: Profit Dips 5%, H1 Net Profit Surges 84% YoY

Nasdaq-listed ReNew Energy Global Plc has now announced its financial results for the second quarter (Q2) of the financial year 2025-26. As per the data shared by the renewable energy company before the exchange, it reported a 5% year-on-year decline in quarterly profit for the second quarter ended Sept. 30, 2025, even as its first-half profit jumped 84%, driven by growth in total income and contributions from its solar manufacturing operations.

The company posted a net profit of ₹468.0 crore ($53 million) for the quarter, compared with ₹493.9 crore a year earlier. Total income rose 29% to ₹3,855.7 crore ($434 million) from ₹2,988.7 crore a year ago. Adjusted EBITDA was ₹2,624.0 crore ($296 million), compared with ₹2,420.9 crore ($273 million) in Q2 FY25.

Increase In Income In Q2

For the six months ended Sept. 30, 2025, total income increased 46% to ₹7,971.5 crore ($898 million) from ₹5,471.3 crore, while net profit rose 84% to ₹980.6 crore ($110 million) from ₹533.3 crore ($60 million) a year earlier.

As of Sept. 30, 2025, ReNew’s total portfolio stood at about 18.5 gigawatts (GW), including 1.1 gigawatt hours (GWh) of battery energy storage, up from 15.6 GW a year earlier. Commissioned capacity increased 12.8% year-on-year to about 11.4 GW, including 150 megawatt hours (MWh) of battery storage.

Manufacturing Growth 

The company operates 6.5 GW of solar module and 2.5 GW of solar cell manufacturing capacity and is constructing an additional 4 GW solar cell facility.

ReNew reaffirmed its fiscal 2026 guidance, targeting completion of 1.6–2.4 GW of new capacity by the end of the financial year. The company expects adjusted EBITDA and cash flow to equity to remain in line with previous forecasts, including ₹100–200 crore in gains from asset sales and ₹1,000–1,200 crore in adjusted EBITDA contributions from its solar manufacturing business.

The rupee figures were translated at ₹88.78 per U.S. dollar.

The company later announced quarterly earnings of ₹11.54 per share, compared with the Zacks Consensus Estimate of ₹15.09 per share.

ReNew is in the middle of a delisting effort from NASDAQ, backed by a share repurchase plan led by its founder and Chairman Sumant Sinha.