Sterling & Wilson Reports Increase In Income, Reduced Losses 

Renewable Energy EPC firm Sterling and Wilson, in its latest filing, said that it witnessed a rise in its total income in the quarter ending September. The increase in income was reported on a Year-On-Year (YoY) basis and also on Quarter-On-Quarter (QoQ) basis. 

As per the furnished details of the unaudited consolidated financial results, the firm reported a total income of Rs 410.80 crore during the quarter ending September 2022, while it increased to Rs 776.73 crore, reporting a total of 89 percent growth. On the other hand, the firm, which reported Rs 522.35 crore income in the last quarter, reported a growth of 49% and reported a total income of Rs 776.83 crore. 

The firm meanwhile also reported a reduction of their losses after tax. While the firm reported a total loss of Rs 95.33 crore in the last quarter ending June, its total losses touched Rs 54.51 crore. On the other hand, the firm, during the same period last year, reported a total loss of Rs 298.71 crore.  

Sterling and Wilson, in September this year, also announced receiving orders for 300 MWac of renewable energy project from the NTPC Renewable Energy Limited at the Khavda renewable energy park at the Rann of Kutch in Gujarat. 

In August this year, the firm announced receiving a Letter of Intent (LOI) from the Gujarat Industries Power Company Limited (GIPCL) for its proposed 600 MWac solar power plant at Khavda. The total value of the bid, including the Operations and Maintenance (O&M), was around Rs 1,130 crore. 

The firm seems to be on a revival spree with large orders. In August this year, it claimed it won orders of around Rs 826 crore in the first four months of FY 2023-24.