ReNew Energy Global's Q2 loss falls to Rs 98 crore

17 Nov 2022 , 08:45 AM

In the September quarter, ReNew Energy Global Plc’s loss decreased from to Rs 98.6 crore, mostly due to greater revenues. According to a business statement, the company reported a net loss of Rs 661.4 crore during the same time last year.

The company’s total income (or total revenue) during the second quarter of fiscal year 23 was Rs 2,240.9 crore, up 5.1% from the second quarter of fiscal year 22. The corporation’s portfolio had 13.4 GWs as of September 30, 2022, an increase of 30.8% from the previous year. It reported that during the quarter under consideration, about one GW of Purchase Power Agreements (PPAs) was signed.

Utility-scale wind, solar, hydro, and distributed solar energy projects are all developed, built, owned, and operated by ReNew. Days Sales Outstanding (DSO) for the second quarter of FY23 finished at 231 days, down 41 days from the same period last year. The company also increased cash by Rs 488.1 crore by reducing accounts receivable during the quarter. DSO is a measurement of the typical time a business takes to obtain payment after a sale has been made.

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