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ReNew Power Q2 results: Loss widens to Rs 1,027 crore

ReNew Energy Global plc (ReNew Power) consolidated net loss widened to Rs 1,027.41 crore in the September quarter.

The consolidated net loss was Rs 91.7 crore in the quarter ended September 30, 2020, the company said in a statement.

The total income of the company rose to Rs 2,131.3 crore in the quarter from Rs 1,475.6 crore a year ago.

The consolidated net loss in the April-September period this year stood at Rs 984.9 crore. The company had registered a net loss of Rs 59.2 crore in the first half of the last fiscal.

The net loss for H1 FY22 (April-September) included Rs 1640.7 crore of charges related to listing on Nasdaq Stock Market LLC, issuance of share warrants, listing related share-based payments and others, according to the statement.

The total income (or total revenue) for H1 FY22 was Rs 3,811.9 crore, an increase of 26 per cent over H1 FY21 (April-September 2020).

As of September 30, 2021, its portfolio consisted of 10,217 MWs — 6,315 MW projects are commissioned; an increase of 15.6 per cent over September 30, 2020, and 3,902 MW are committed, out of which power purchase agreements (PPAs) are signed for 2,699 MWs.

As of November 15, 2021, 7 GWs of capacity was commissioned.

“Our estimate remains at 8.2 GWs of capacity operating by the end of FY22 and Adjusted EBITDA for FY22, excluding the impact of weather, will be approximately Rs 60,750 million (or USD 810 million, using a foreign exchange rate of Indian rupees into the US dollars of Rs 75.00 to USD 1.00),” it stated.

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