ReNew's net profit rises 16% to ₹595.3 crore in Q1

ReNew Energy Global Plc on Tuesday reported a 16% growth in its net profit for the June quarter at ₹595.3 crore, compared to ₹513.1 crore in the year-ago quarter.

Its total income also grew by around 16% year-on-year to ₹4,786.4 crore, the company said in a statement. Its total income during the first quarter of 2025-26 was ₹4,118.2 crore.

“Revenue from the sale of power for Q1FY27 was ₹26,749 million ($283 million), compared to ₹25,473 million ($269 million) for Q1FY26,” it said, while adding that revenue) from external sales in the solar module and cell manufacturing business was ₹1,677.7 crore ($177 million), compared to ₹1,322.3 crore ($140 million) for the period under review.

Company portfolio

As of 30 June 2026, the company’s portfolio consisted of 20.5 gigawatts of renewable capacity, including 1.7GW/6.2GWh of battery energy storage systems. Its solar module and solar cell manufacturing capacities stood at 4GW and 2.5GW, respectively, at the end of June, and it is expanding its solar cell manufacturing capacity by another 4GW, which is expected to be operational by December 2026.

In April, ReNew announced plans to set up a 6.5GW solar ingot and wafer manufacturing facility in Andhra Pradesh's Anakapalli district, near Visakhapatnam, with an investment of ₹4,200 crore. The investment is part of its ₹82,000-crore investment commitment to the state made at the CII Partnership Summit 2025.

Recently, the RP-Sanjiv Goenka Group (RPSG) said that its subsidiary Purvah Green Power is set to acquire a 1.4 gigawatt peak (GWp) operating solar portfolio from ReNew Solar Power for an enterprise value of ₹4,859 crore.

In December 2024, the promoters’ consortium, including the Canada Pension Plan Investment Board (CPPIB), the Abu Dhabi Investment Authority (ADIA), founder and chief executive Sumant Sinha, and new investor Masdar, proposed buying out the listed shares to take the company private.

CPPIB, ADIA and Sinha together own 64% of the company. Masdar is a UAE government-backed renewable energy company. Last December, Masdar pulled out of the consortium that had proposed to take ReNew private after the consortium, in October, made a final non-binding offer to buy back its shares. The promoters’ consortium had increased its offer price to $8.15 per share, payable in cash, from the previous offer of $7.07 per share.

Recently, CPPIB and Sumant Sinha made a fresh offer to acquire the listed shares at $7.02 per share, according to a regulatory filing.

ReNew's shares on Nasdaq are currently trading at $6.81, down 0.15% from the previous close.