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ReNew Energy Global Plc reported a 16% year-on-year increase in net profit to INR 595.3 crore in the April-June quarter of FY27, supported by higher revenue from power sales and its solar module and cell manufacturing business. Total revenue rose to INR 4,786.4 crore, while revenue from power sales increased to INR 2,674.9 crore. The company’s overall portfolio stood at 20.5 GW, including battery energy storage capacity, while commissioned capacity reached 13.1 GW before a subsequent addition of 466 MW. ReNew is also expanding its solar cell manufacturing capacity by another 4 GW.
ReNew Energy Global Plc reported a 16% year-on-year increase in net profit to INR 595.3 crore for the April-June quarter of FY27, with the growth supported by higher revenue during the period.
The company’s net profit stood at INR 595.3 crore, compared with INR 513.1 crore in the corresponding quarter of the previous fiscal year. Total income or revenue increased to INR 4,786.4 crore from INR 4,118.2 crore a year earlier.
Revenue from the sale of power rose to INR 2,674.9 crore during the quarter, compared with INR 2,547.3 crore in the same period of the previous fiscal year. The company’s solar module and cell manufacturing operations also contributed to the increase in revenue. External sales from these operations stood at INR 1,677.7 crore, up from INR 1,322.3 crore a year earlier.
ReNew’s portfolio stood at 20.5 GW as of the end of June, including 1.7 GW/6.2 GWh of battery energy storage systems (BESS). This represents further expansion from the nearly 20 GW portfolio reported at the end of FY26, when the portfolio also included 1.7 GW/6.2 GWh of BESS.
The company has 6.4 GW of solar module manufacturing capacity and 2.5 GW of solar cell manufacturing capacity. It is currently expanding its solar cell manufacturing capacity by another 4 GW, which is expected to become operational by December 2026.
Commissioned capacity increased 17% year-on-year to 13.1 GW, including 100 MW/250 MWh of BESS. Following the quarter, ReNew commissioned another 466 MW of solar capacity, taking its commissioned capacity to 13.5 GW, after accounting for 100 MW that was sold as part of its capital recycling strategy.
The company’s capacity expansion follows a strong FY26, during which it commissioned 2.4 GW of renewable energy capacity, its highest annual addition to date. At the end of FY26, ReNew’s portfolio had reached around 20 GW, compared with around 17.3 GW a year earlier.
Its manufacturing operations have also become a larger part of the business. During FY26, ReNew’s solar manufacturing facilities produced more than 4.1 GW of modules and nearly 1.86 GW of solar cells. The company had 6.5 GW of operating solar module capacity and 2.5 GW of operating solar cell capacity at that stage, with the additional 4 GW cell capacity under development.
ReNew has also continued to expand its commercial and industrial renewable energy business. Its ReNew Green arm had a committed capacity of 2.5 GW, of which more than 2 GW was already commissioned as of the end of FY26. The company has partnerships with global technology companies including Microsoft, Amazon and Google in this segment.
For FY27, ReNew continues to expect construction of between 1.6 GW and 2.4 GW of capacity to be completed by the end of the financial year in March 2027. The company’s earlier guidance also includes expectations of continued asset sales under its capital recycling strategy and further external sales from its module and cell manufacturing operations.
The company’s capital recycling strategy involves monetising selected operating assets and using the proceeds to support the development of new capacity. This approach has been part of ReNew’s expansion strategy as it seeks to increase its operating portfolio while managing capital requirements.
Source PTI
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