Last Update: February 17, 2023, 17:41 IST
Renew Energy Global’s net loss also narrowed to Rs 510.3 crore ($62 million) during the first nine months of FY23 (April-December 2022), compared to a loss of Rs 1,257.3 crore ($152 million) in the same period a year ago. ) Was.
ReNew Energy Global’s total revenue for the third quarter of FY2023 was ₹16,077 million or ₹1,607.7 crore ($194 million), up 19.4 percent over the same quarter of FY2022.
Renew Energy Global Plc on Friday said its loss narrowed to Rs 401.3 crore in the December 2022 quarter from Rs 638.4 crore in the same period a year ago. “The net loss for Q3 FY23 was at Rs 4,013 million (USD 49 million) as compared to a net loss of Rs 6,384 million (USD 77 million) for Q3 FY22,” said a company statement.
Total income (or total revenue) in the third quarter of FY2023 was Rs 16,077 million or Rs 1,607.7 crore (USD 194 million), up 19.4 per cent over the same quarter of FY2022.
Net loss during the first nine months of FY23 (April-December 2022) also widened to Rs 510.3 crore (USD 62 million) as compared to a loss of Rs 1,257.3 crore (USD 152 million) in the same period a year ago. Total income during the first nine months of FY2023 stood at Rs 6,349.3 crore (USD 768 million), up 23.1 per cent from the same period a year ago.
As of December 31, 2022, the company’s portfolio comprises 13.4 GW, a year-on-year growth of 30.2 per cent, of which 7.8 GW is commissioned and 5.6 GW is committed. About 0.3 GW power purchase agreements (PPAs) were signed in the quarter and only 1 per cent of the total portfolio is awaiting PPAs/contracts, it said.
“Days Sales Outstanding (DSO) ended Q3 FY23 at 178 days, an improvement of 78 days year on year. On the back of clear arrangements for future payment schedules agreed with several state discoms, DSOs are on track for substantial recovery in the rest of the year,” it said.
Renew is a leading Nasdaq listed decarbonization solutions company. ReNew has the largest clean energy portfolio globally at 13.4 GW on a gross basis as of December 31, 2022.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)