Shares of Sterling and Wilson Renewable Energy (SWREL) soared 10 per cent to Rs 616.90 on the BSE in Monday’s intra-day. This came after the company’s March quarter (Q4FY24) profit before tax (PBT) and profit after tax (PAT) turned positive after nearly 12 quarters. The company reported PAT of Rs 1 crore in Q4FY24, against a net loss of Rs 421 crore in a year ago quarter.
Revenue has grown significantly both YoY and sequentially at Rs 1,178 crore due to execution pace picking up in the domestic projects in Q4. Liquidity is likely to continue to improve with closure of legacy projects and improved credit ratings, the company said.
