Home / Companies / Company Results /  ReNew Energy loss narrows to 98 cr in September quarter

New Delhi: ReNew Energy Global Plc loss narrowed to 98.6 crore in the September quarter compared to a net loss of 661.4 crore a year ago.

Total Income or total revenue of the company for Q2 FY23 was at 2,240.9 crore, an increase of 5.1% over Q2 FY22, the company said in a statement.

Days sales outstanding (DSO) ended Q2 FY23 at 231 days, a 41-day improvement year-on-year, and the company increased its cash by 488.1 crore through a reduction in accounts receivables during the quarter, the company said.

“$300 million Green Bonds were redeemed during Q2 FY23. As of September 30, 2022, ~50% of total outstanding debt is local currency borrowing," it said.

“ReNew continues to lead the energy transition in India and during the quarter, we signed 1 GW of purchase power agreements as a preferred partner for carbon-mitigation solutions,“ said Sumant Sinha, Chairman and CEO, ReNew.

“We have furthered our investments in capacity and our technology and analytics capabilities through an acquisition of 3E, a leading SaaS solutions company in renewable energy and a new partnership with Norfund and KLP. The core operations of the company continue to execute as expected this year and our continued access to affordable capital are enabling the company to capitalize on significant growth opportunities," he added.

ReNew is one of the largest renewable energy independent power producers globally. ReNew develops, builds, owns and operates utility-scale wind energy, solar energy and hydro projects. As of October 10, 2022, ReNew has a gross total portfolio of 13.4 GW of renewable energy projects across India, including commissioned and committed projects.

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