2 months ago
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ReNew Energy Global Plc., listed on the Nasdaq, reported a net loss of ₹321.6 crore ($39 million) for the third quarter of FY24 as compared with a net loss of ₹401.3 crore ($48 million in the year-ago period.
Total income for Q3 FY24 increased to ₹1,929 crore ($232 million) from ₹1,607.7 crore ($193 million) in the same period last year.
As of December 31, 2023, the company’s portfolio consisted of 13.8 GWs, of which 8.5 GWs are commissioned and 5.3 GWs are committed, compared to 13.4 GWs as of December 31, 2022.
Adjusted EBITDA for Q3 FY24 was ₹1,250. 9 crore ($150 million), as against ₹1,162.8 crore ($ 140 million) in Q3 FY23.
Cash Flow to equity (CFe) for Q3 FY24 was ₹2,39.2 crore ($30 million) compared with ₹268.2 crore ($32 million) in Q3 FY23.
“We are increasing the bottom end of our FY24 Adjusted EBITDA guidance range by 2%, to ₹6,300 crore – ₹6,600 crore and expect revenue generation from 1,750 to 1,950 MWs of completed projects by the end of FY2024,” the company said in a statement.
“The company’s Adjusted EBITDA and Cash Flow to equity guidance for FY24 are subject to the weather being similar to FY23,” it added.
