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ReNew Power posts Rs10.4 crore loss in June quarter

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ReNew Energy introduced a lack of Rs10.4 crore for the April–June quarter of FY23 on Friday because of some changes to one-time bills. Compared to a internet revenue of Rs 425 million (USD 5 million or Rs42.5 crore) for Q1 FY22 (April-June 2021), the corporate reported that its internet loss for the primary quarter of FY23 (April-June 2022) was Rs 104 million (USD 1 million or Rs10.4 crore).


The corporate mentioned that the web loss displays the influence of reclassifying a hedging loss from the stability sheet of Rs2,531 million (USD 32 million or Rs253.1 crore) for the refinancing of greenback bonds with decrease value rupee debt in addition to a one-time cost for debt premium. For the primary quarter of FY23, complete earnings (or complete income) was Rs25,007 million (USD 316 million or Rs2,500.7 crore), up 48.8% over the identical interval in FY22.


It mentioned that the alternate price used to transform Indian rupees into US {dollars} is 79.02 to 1. By June 30, 2022, the corporate’s portfolio had grown by 30.3% 12 months over 12 months to 12.9 GWs, of which 7.6 GWs are actually in fee and 5.3 GWs are dedicated. The corporate signed a further 0.3 GWs of PPAs (Energy Buy Agreements) after the quarter ended, growing its complete portfolio to 13.2 GWs presently, it mentioned. By June 30, 2022, the corporate’s portfolio had grown by 30.3% 12 months over 12 months to 12.9 GWs, of which 7.6 GWs are actually in fee and 5.3 GWs are dedicated.

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