ACME Solar Holdings Limited has reported a strong performance for the third quarter ended December 31, 2024. The company’s revenue from operations increased 5% quarter-on-quarter (QoQ) and 5.2% year-on-year (YoY) to ₹349.01 crore, up from ₹259.59 crore in the previous quarter and ₹331.63 crore in Q3 FY24. The revenue growth was primarily driven by higher electricity sales.
Total income, including other income, stood at ₹400.83 crore, rising 35.8% QoQ from ₹295.15 crore and 9.9% YoY from ₹364.66 crore in Q3 FY24. Total expenses for the quarter came in at ₹41.81 crore, reflecting a 7.7% increase QoQ from ₹38.83 crore but a 23.1% decline YoY from ₹54.43 crore in Q3 FY24, indicating better cost efficiency.
The company’s EBITDA (profit before finance cost, depreciation, and amortization) for Q3 FY25 stood at ₹359.01 crore, registering a 40% QoQ growth from ₹256.31 crore and 15.7% YoY growth from ₹310.23 crore.
Finance costs for the quarter stood at ₹179.08 crore, marginally lower than ₹178.30 crore in Q2 FY25 but 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) surged 470% QoQ and 261% YoY to ₹103.37 crore, compared to ₹18.14 crore in Q2 FY25 and ₹28.63 crore in Q3 FY24.
After accounting for tax adjustments, net profit for Q3 FY25 stood at ₹112.06 crore, significantly higher than ₹15.29 crore in Q2 FY25 and more than doubling from ₹44.45 crore in Q3 FY24.
For the nine months ended December 2024, ACME Solar reported a total income of ₹1,035.98 crore, a 9.8% YoY increase, while net profit for the period stood at ₹128.74 crore, up from ₹165.41 crore in the previous year.
