Now Reading: ReNew net profit rises 16% to Rs 595.3 crore in Q1
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ReNew net profit rises 16% to Rs 595.3 crore in Q1
ReNew Energy Global Plc reported a 16% rise in net profit for the June quarter at Rs 595.3 crore, up from Rs 513.1 crore a year ago. Total income grew by 16% year-on-year to Rs 4,786.4 crore, driven by higher revenue from power sales and solar module manufacturing. As of 30 June 2026, the company held 20.5 GW of renewable capacity, including battery storage.
The company is expanding its solar cell capacity by 4 GW, expected to be operational by December 2026. In April, ReNew announced plans for a 6.5 GW solar ingot and wafer facility in Andhra Pradesh, with an investment of Rs 4,200 crore. Recently, RP-Sanjiv Goenka Group's subsidiary Purvah Green Power agreed to acquire a 1.4 GWp solar portfolio from ReNew for Rs 4,859 crore.
A promoters' consortium, including CPPIB, ADIA, and CEO Sumant Sinha, has proposed taking the company private, with a fresh offer at $7.02 per share. The consortium previously increased its offer to $8.15 per share after Masdar pulled out. ReNew's Nasdaq shares closed at $6.81.
Indian Opinion Analysis
Livemint's coverage is a neutral, data-heavy earnings report with no editorial slant. It presents financial results, portfolio details, and corporate actions such as the buyout offer and asset sale without commentary. The story emphasises growth numbers and expansion plans, typical of business reporting. A careful reader should note that the buyout offer price ($7.02) is below the earlier offer ($8.15) and current trading price ($6.81), indicating the deal's progress remains uncertain. Watch for the December 2026 timeline for the new solar cell capacity and any shareholder response to the latest buyout proposal.
Coverage: 1 source, 1 neutral
Source: livemint.com (neutral report)
This story was synthesised by AI from the source linked above. Methodology and corrections.
