New Delhi: ReNew Vitality World Plc loss narrowed to ₹98.6 crore within the September quarter in comparison with a internet lack of ₹661.4 crore a 12 months in the past.
Complete Earnings or whole income of the corporate for Q2 FY23 was at ₹2,240.9 crore, a rise of 5.1% over Q2 FY22, the corporate stated in an announcement.
Days gross sales excellent (DSO) ended Q2 FY23 at 231 days, a 41-day enchancment year-on-year, and the corporate elevated its money by ₹488.1 crore via a discount in accounts receivables through the quarter, the corporate stated.
“$300 million Inexperienced Bonds have been redeemed throughout Q2 FY23. As of September 30, 2022, ~50% of whole excellent debt is native forex borrowing,” it stated.
“ReNew continues to guide the vitality transition in India and through the quarter, we signed 1 GW of buy energy agreements as a most well-liked accomplice for carbon-mitigation options,“ stated Sumant Sinha, Chairman and CEO, ReNew.
“Now we have furthered our investments in capability and our know-how and analytics capabilities via an acquisition of 3E, a number one SaaS options firm in renewable vitality and a brand new partnership with Norfund and KLP. The core operations of the corporate proceed to execute as anticipated this 12 months and our continued entry to inexpensive capital are enabling the corporate to capitalize on vital progress alternatives,” he added.
ReNew is among the largest renewable vitality impartial energy producers globally. ReNew develops, builds, owns and operates utility-scale wind vitality, photo voltaic vitality and hydro tasks. As of October 10, 2022, ReNew has a gross whole portfolio of 13.4 GW of renewable vitality tasks throughout India, together with commissioned and dedicated tasks.
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Supply: Live Mint