In Short : Surana Solar has reported profitability in the second quarter, with income rising to ₹1,454 crore. This significant growth reflects the company’s effective strategies and increased demand for solar solutions. The turnaround highlights Surana Solar’s commitment to expanding its market presence and enhancing operational efficiency. The positive financial results position the company well for future growth in the renewable energy sector.
In Detail : New Delhi – Surana Solar on Monday posted a Rs 32.69 lakh net profit in the September quarter mainly on the back of higher revenues.
The company had reported a loss of Rs 145.47 lakh in the quarter ended on September 30, 2023, a BSE filing showed.
Total income rose to Rs 1,454.01 crore in the quarter from Rs 308 lakh in the same period a year ago.
The board also approved a proposal for raising up to Rs 200 crore by way of issuance of equity shares/ convertible instrument and any other instrument by way of private placement, qualified institutions placement, preferential issue or any method or combination of methods in one or more tranches, subject to approval of shareholders.
The board has also considered making Surana Technologies Private Limited a wholly-owned subsidiary to execute various solar projects.
They also approved the appointment of Vempati Venkata Nagasri Durga Raja Sriramya as Company Secretary and Compliance Officer of the Company from October 21, 2024.
