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ACME Solar sees growth in Q3 FY 2024-25; JSW Energy and Coal India report declines

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ACME Solar has reported strong financial growth for the third quarter of FY 2024-25, ending on December 31, 2024. The company’s profit after tax (PAT) surged by 152% year-on-year, reaching Rs 1.12 billion, with a PAT margin of 28%.  Total revenue for the quarter stood at Rs 4.01 billion, reflecting a 9.9% year-on-year increase and a 35.8% quarter-on-quarter growth. Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 15.7%, reaching Rs 3.59 billion, with…

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KPI Green secures Rs 13.11 billion solar project at Khavda Solar Park

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KPI Green Energy Limited has won Coal India Limited’s auction to develop a 300 MW grid-connected ground-mounted solar project at Khavda Solar Park in Gujarat.  The contract, valued at Rs 13.11 billion, includes the design, engineering, procurement, supply, installation, testing, and commissioning of the project. The scope also covers the transportation and transit insurance of PV modules designed for a 1,500V system voltage, along with comprehensive operation and maintenance for five years.  The project is…

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Coal India reports 22% decline in Q2 net profit

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Coal India Limited (CIL) has reported a net profit of Rs 62.75 billion for the quarter ending September 2024, marking a 22.04% decrease from Rs 80.49 billion in the same quarter last year.  The company’s total income for the quarter stood at Rs 321.78 billion, down approximately 7.43% from Rs 347.60 billion in the corresponding period of the previous year.

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DVC highest bidder for Hiranmaye Energy assets

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Damodar Valley Corporation (DVC) has emerged as the highest bidder in the auction for Hiranmaye Energy’s assets, offering Rs 15 billion, surpassing the reserve price of Rs 13 billion.  This marks DVC’s first acquisition, adding to its total installed capacity of around 6,700 MW, including greenfield and brownfield expansions.  Hiranmaye Energy operates a 300 MW thermal power plant in Haldia, West Bengal, with two units of 150 MW each. The company holds a 25-year power…