ACME Solar Holdings: Navigating Profit Dips Amid Solar Expansion
ACME Solar Holdings reported a significant 77% decline in net profit to Rs 122 crore for the March quarter, primarily due to a previous exceptional gain from asset divestment. Despite this, the company's income rose, with finance costs and depreciation expenses also increasing. The firm continues solar project expansions.
- Country:
- India
ACME Solar Holdings announced a dramatic 77% fall in consolidated net profit to Rs 122 crore for the March quarter, mainly attributed to an exceptional gain in the previous year.
This dip came after a significant Rs 696 crore gain from divesting 369 MW of solar assets across Punjab, Uttarakhand, and Karnataka in the same period last year.
Despite the profit dip, total income rose to Rs 539.2 crore, and the company continued expanding its solar projects.
(With inputs from agencies.)
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