ACME Solar's Profit Soars Amid Renewable Energy Boom

ACME Solar Holdings Ltd, a prominent player in India's renewable energy sector, has reported a staggering seven-fold increase in its net profit, reaching Rs 115.06 crore for the second quarter of this fiscal year. This impressive growth is attributed to higher revenue generation, marking a significant rise from the Rs 15.2 crore profit recorded in the same period last year.

The company also saw its total income more than double, surging to Rs 601.36 crore in the July-September quarter, compared to Rs 295.14 crore during the same period in the previous year. According to a regulatory filing on Monday, these figures underscore the company's robust performance and enhanced market presence.

ACME Solar, which is well-known for its diversified portfolio across solar, wind, and other renewable energy projects, partially commissioned a 28 MW portion of its ongoing 100 MW wind project in Gujarat. The cumulative commissioned capacity now stands at 378 MW, contributing to an overall operational capacity of 2,918 MW and an under-construction capacity of 4,472 MW.