Ujaas Energy targets 80MW capacity in FY17: Joint MD

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Ujaas Energy targets 80MW capacity in FY17: Joint MD

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Ujaas Energy hit a fresh 52-week high after reporting a good second quarter ending September in which profit rose 32.9 percent to Rs 9.7 crore from Rs 7.3 crore in the first quarter. While EBIDTA during the quarter grew 19.5 percent, EBIDTA margin slipped to 15.2 percent from 16.4 percent in the previous quarter. Net income rose 29.3 percent to Rs 121.2 crore in Q2FY17.

Anurag Mundra, Joint Managing Director and Chief Financial Officer at Ujaas Energy, said that margins may have slipped as solar power operations generated lesser electricity due to monsoon. He added that going ahead the company plans to commission 80MW worth capacity in FY17.

He said that the company has installed 20MW capacity in the quarter and the company sees huge potential in home rooftop solar segment.