ReNew cuts loss to $49m in Q3 FY23

Its portfolio as of 31 December 2022 is at 13.

Its portfolio as of 31 December 2022 is at 13.4 GW.

India’s ReNew has reduced its net loss to $49m (INR4b) in the third quarter of the financial year 2023 ending on 31 December 2022, compared to a $77m (INR6.4b) net loss in the same period last year.

In a statement, the company said its revenue during the period rose 19.4% year-on-year (YoY) to $194m (INR16.1b), whilst adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the period rose 10.2% YoY to $141m (INR11.6b).

For the first nine months of the financial year, ReNew posted a net loss of $62m (INR5.1b), compared to the $152m (INR12.6b) in the same period last year.

READ MORE: ReNew Power rebrands to ReNew

Its total revenue also rose by 32.1% YoY to $768m (INR63.5b), with a 17.8% YoY increase in adjusted EBITDA to $604m (INR50b).

As of 31 December 2022, ReNew portfolio jumped by 30.2% YoY to 13.4 gigawatts (GW), of which 7.8GW were commissioned and 5.6GW were committed. Around 0.3GW of power purchase agreements (PPA) were signed during the quarter and only around 1% of the total is wairing for PPAs or contracts.

ReNew Power

Can't Login? Sign up for an account

Email address The email address is not made public. It will only be used if you need to be contacted about your account or for opted-in notifications.

Password

Confirm password

Provide a password for the new account in both fields.

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Already have an Asian Power account? Login

Can't log in?

Return to login

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit