Premier Energies Ltd. has reported a significant increase in its third-quarter revenue, which surged by 140.6 per cent year-on-year to reach ₹1,713 crore for the period ending on December 31, 2024. Despite this positive financial result, the company’s shares traded at ₹1,031.10, showing a decrease of 3.67 per cent on the NSE at 12.10 PM, continuing a decline from the previous day’s closing price of ₹1,073.
The company’s net profit stood at ₹255.2 crore, benefiting from increased other income of ₹36 crore and a tax reversal of ₹21 crore. EBITDA also showed impressive growth, reaching ₹513.7 crore compared to ₹123 crore in the same quarter of the previous year, with margins expanding to 30 per cent from 17.3 per cent. On a quarter-on-quarter basis, the company recorded a 12.2 per cent growth in revenue and a 35 per cent increase in EBITDA.
Premier Energies’ order book at the end of the quarter amounted to 4,539 MW valued at ₹6,946 crore, with modules accounting for 63 per cent and cells for 36 per cent. The company maintained strong capacity utilization, with cells operating at 96 per cent and modules at 74 per cent.
However, the company’s net debt increased to ₹1,917 crore from ₹1,193 crore year-on-year and ₹1,017 crore quarter-on-quarter. In response to its performance, Premier Energies announced plans to expand its manufacturing capacity to 7 GW for cells and 9.1 GW for modules by June 2026.
The article was published on February 4, 2025.
