Earnings Review
Higher battery storage revenues propel ACME Solar Q1 PAT
This story was originally published at 22:09 IST on 29 July 2026
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--ACME Solar Apr-Jun consol net profit INR 2.35 bln
--Analysts saw ACME Solar Apr-Jun consol net profit at INR 1.72 bln
--ACME Solar Apr-Jun consol revenue INR 8.58 bln
--Analysts saw ACME Solar Apr-Jun consol revenue at INR 7.40 bln
--ACME Solar Apr-Jun consol PAT INR 2.35 bln vs INR 1.31 bln year ago
--ACME Solar Apr-Jun consol revenue INR 8.58 bln vs INR 5.11 bln year ago
By Pratyush Kumar
MUMBAI – ACME Solar Holding Ltd. reported a sharp jump in its consolidated net profit for the June quarter led by a rise in revenues. The revenue and net profit both beat analyst estimate by a wide margin.
The power producer reported a net profit of INR 2.35 billion for the June quarter, up 80% on year and up 69% sequentially. The company's revenue from operations rose 68% on year to INR 8.58 billion. The revenue grew 56% sequentially.
ACME Solar's total expenses for the June quarter more than doubled to INR 1.23 billion and were up 79% sequentially. Other expenses accounted for the company's highest expense head at INR 665 million, followed by cost of power purchased at INR 390 million. The company had not reported a cost of power purchased in earlier quarters hence there is no comparison available.
The company's finance costs rose sharply by 48% to INR 3.44 billion from INR 2.33 billion in the year-ago quarter. ACME Solar's earnings before interest, tax, depreciation, and amortisation rose more than 56% on year to INR 8.31 billion from INR 5.31 billion it had reported in the year-ago quarter. The company's EBITDA margin for the June quarter fell 380 basis points to 87.1% from 90.9%.
The revenues for the June quarter were driven by higher irradiation of solar energy, better performance of its plants, capacity addition in renewable energy, and battery energy storage systems, the company said. ACME Solar sold 2.02 billion units of electricity in the June quarter, up 23.4% on year. The company commissioned 2.3 gigawatt-hour of battery energy storage systems in the June quarter, taking its total commissioned capacity to 3.62 gigawatt.
ACME Solar signed two power purchase agreements in the June quarter totalling 600 megawatts with Solar Energy Corp. of India Ltd. The tariff for 300 megawatts for firm and dispatchable renewable energy project is INR 6.28 per unit and it is INR 3.25 per unit for the hybrid project. The company has a debt tie-up of over INR 60 billion for 700 megawatts of under construction projects with REC Ltd. and Power Finance Corp. Ltd.
Wednesday, shares of the company closed at INR 366.65 apiece on the National Stock Exchange, up 3% from Tuesday. The company detailed its June quarter earnings post market hours. End
Edited by Pankaj Aher
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