ACME Solar Q3 results: Net profit jumps 152% to ₹112 crore, shares hit 10% upper circuit

Following its Q3 FY25 earnings announcement, the company’s stock hit a 10% upper circuit at ₹191.23 per share price on the National Stock Exchange (NSE).

On a quarter-on-quarter basis (QoQ), net profit surged 632.5% from ₹15.3 crore in the second quarter of the 2024-25 fiscal (Q2 FY25).

ACME Solar’s revenue from operations stood at ₹349.01 crore in the third quarter quarter of the financial year 2024-25 (FY25), jumping 5.24% YoY from ₹331.52 crore in the year-ago period. Sequentially, its revenue grew 34.45% from ₹259.59 crore in Q2 FY25.

Its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) climbed 15.7% YoY to ₹359 crore, compared to ₹310 crore in the same period last year. On a QoQ basis, EBITDA increased 40.1% from ₹256 crore.

ACME Solar’s EBITDA margin expanded to 89.6% as against 85.1% in Q3 FY24.

“In Q3 FY25, we delivered strong financial and operating performance, driven by significant capacity expansions. A key milestone was the successful commissioning of the 1,200 MW ISTS SECI Plant in Rajasthan, taking our operational portfolio to 2,540 MW,” Manoj Kumar Upadhyay, the chairperson and managing director of ACME Solar Holdings commented.

He highlighted that the 1,200 MW ISTS SECI Plant in Rajasthan was the largest single-day commissioning of solar projects.

“This achievement represents one of the largest single-day commissioning of solar projects. During the quarter, our consolidated EBITDA stood at ₹359 crore, up 15.7% and consolidated PAT stood at ₹112 crore, up 152% on a YoY basis,” Upadhyay said.

“We are committed to driving growth, enhancing executional and operational efficiency, and delivering exceptional value to our stakeholders. With growing demand for renewable energy and strong support from both the government and other stakeholders, we are well-positioned to capitalise emerging opportunities. This momentum is expected to drive sustained revenue growth as more projects become operational in the years ahead.” he added.

ACME Solar has a total market cap of ₹11,571.09 as of January 29, on the NSE.