Shares of ACME Solar Holdings Limited rallied 10% in early trade after the company posted robust financial results for the third quarter ending December 31, 2024. The company’s revenue from operations rose 5% quarter-on-quarter (QoQ) and 5.2% year-on-year (YoY) to ₹349.01 crore, compared to ₹259.59 crore in the previous quarter and ₹331.63 crore in Q3 FY24. The rise in revenue was primarily driven by higher electricity sales.
Total income, including other income, reached ₹400.83 crore, marking a 35.8% QoQ growth from ₹295.15 crore and a 9.9% YoY increase from ₹364.66 crore in Q3 FY24. Total expenses for the quarter were ₹41.81 crore, reflecting a 7.7% rise QoQ from ₹38.83 crore, while on a YoY basis, expenses declined 23.1% from ₹54.43 crore, indicating improved operational efficiency.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter surged 40% QoQ to ₹359.01 crore, compared to ₹256.31 crore in Q2 FY25, and showed a 15.7% YoY growth from ₹310.23 crore in the corresponding quarter of the previous fiscal.
Finance costs stood at ₹179.08 crore, slightly lower than ₹178.30 crore in Q2 FY25 and down from ₹202.38 crore in Q3 FY24. Depreciation and amortization expenses were ₹69.66 crore, compared to ₹85.73 crore in Q3 FY24.
Profit before tax (PBT) skyrocketed 470% QoQ and 261% YoY to ₹103.37 crore, significantly higher than ₹18.14 crore in Q2 FY25 and ₹28.63 crore in Q3 FY24.
After tax adjustments, net profit for Q3 FY25 jumped to ₹112.06 crore, significantly higher than ₹15.29 crore in Q2 FY25 and ₹44.45 crore in Q3 FY24, representing a 152% YoY growth.
For the nine months ending December 2024, ACME Solar reported a total income of ₹1,035.98 crore, up 9.8% YoY, while net profit for the period stood at ₹128.74 crore, compared to ₹165.41 crore in the same period last year.
The strong quarterly performance has reaffirmed investor confidence, driving ACME Solar’s stock price higher. With sustained revenue growth, declining expenses, and strong profitability, the company remains well-positioned to capitalize on India’s growing renewable energy sector.
