Gensol Engineering Ltd has announced its quarterly earnings for the fourth quarter of the financial year 2024. The company on Tuesday reported a nearly three-fold jump in its consolidated net profit to Rs 20 crore during the quarter, on account of higher revenue.

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It had posted a profit after tax (PAT) of Rs 7 crore in the year-ago period, the company said in a regulatory filing.

The company's total revenue also rose to Rs 412 crore in the January-March period as against Rs 167 crore a year ago.

As of March 2024, the company said it had an order book of Rs 1,783 crore, of which Rs 1,448 crore worth of orders are from the solar segment.

"We continue to take strategic bets like Scorpius Trackers's acquisition, Middle East entry, BESS (battery energy storage system) and we continue to expand into segments such as EV leasing and EV manufacturing," Anmol Singh Jaggi, Managing Director of Gensol Engineering, said.

The company is a part of the Gensol group of companies which offers EPC services for the development of solar power plants.

Key Highlights

- Total Revenue was Rs 996 crore for FY24 compared to Rs 403 Crore in FY23, an increase of 147 per cent.

- EBITDA stood at Rs 260 crore for FY24 compared to Rs 82 Crore during FY23, an increase of 218 per cent.

- EBITDA Margin increased by 580 bps to 26.1 per cent in FY24 as against 20.3 per cent in FY23.

-  PBT was Rs 78 Crore for FY24 compared to Rs 33 Crore in FY23, an increase of 135 per cent.

-  PAT stood at Rs 53 Crore for FY24 compared to Rs 23 Crore in FY23, an increase of 129 per cent.

- EPS increased by 144 per cent to Rs 15.80 in FY24 from Rs 6.49 in FY23.

- As of 31st March 2024, the order book stood at Rs 1,783 crore: Rs 1,448 crore from the Solar segment and Rs 335 crore from the Leasing segment.

- Reports Net Debt of Rs 852 crore and Cash of Rs 544 crore.