ReNew Energy plc(US:RNW)2024-11-19 21:00Financial Performance - Total Income for Q2 FY25 was INR 29,887 million (US$ 357 million), an increase of 4.4% over Q2 FY24[10] - Net profit for Q2 FY25 was INR 4,939 million (US$ 59 million), compared to INR 3,771 million (US$ 45 million) for Q2 FY24[17] - Adjusted EBITDA for Q2 FY25 was INR 24,209 million (US$ 289 million), an increase of 13.7% year on year[19] - Revenue for the three months ended September 30, 2024, increased to INR 26,735 million, up from INR 25,956 million in the same period of 2023, representing a growth of 3%[50] - Profit for the period for the three months ended September 30, 2024, was INR 4,939 million, a 31% increase compared to INR 3,771 million in the same period of 2023[50] - Adjusted EBITDA for the three months ended September 30, 2024, reached INR 24,209 million, up from INR 21,298 million in the same period of 2023, reflecting a growth of 9%[54] - Total income for the six months ended September 30, 2024, was INR 54,713 million, compared to INR 53,291 million for the same period in 2023, indicating a growth of 3%[50] - The company reported a decrease in total expenses for the three months ended September 30, 2024, to INR 22,334 million, down from INR 23,864 million in the same period of 2023, a reduction of 6%[50] Cash Flow and Investments - Cash generated from operating activities for Q2 FY25 was INR 20,158 million (US$ 241 million), compared to INR 18,926 million (US$ 226 million) for Q2 FY24[22] - Cash used in investing activities for Q2 FY25 was INR 19,985 million (US$ 239 million), compared to INR 47,516 million (US$ 567 million) for Q2 FY24[23] - Cash generated from operations for the three months ended September 30, 2024, was INR 20,713 million, an increase from INR 19,155 million in the same period of 2023[52] - Net cash generated from operating activities for the six months ended September 30, 2024, was INR 30,071 million, compared to INR 32,399 million in the same period of 2023[52] - Total Cash flow to equity (CFe) for the first half of 2024 decreased to INR 15,683 million from INR 19,364 million in the same period of 2023, representing a decline of 19.5%[55] - Total CFe for Q3 2024 was INR 5,980 million, down from INR 9,780 million in Q3 2023, indicating a decrease of 38.4%[55] Assets and Liabilities - Total assets increased from INR 873,935 million as of March 31, 2024, to INR 930,728 million as of September 30, 2024[47][48] - Non-current assets rose from INR 769,498 million to INR 821,856 million during the same period[47] - Current assets increased from INR 104,437 million to INR 108,872 million, with cash and cash equivalents decreasing from INR 27,021 million to INR 17,985 million[47] - Total liabilities increased from INR 752,238 million to INR 800,998 million, with current liabilities rising significantly from INR 142,044 million to INR 168,294 million[48] - Total equity grew from INR 121,697 million to INR 129,730 million, reflecting an increase in equity attributable to equity holders of the parent[47] Debt and Financing - Net debt as of September 30, 2024, was INR 621,624 million (US$ 7,421 million)[27] - The company reported a significant increase in finance costs for the three months ended September 30, 2024, amounting to INR 12,597 million, compared to INR 12,953 million in the same period of 2023, a decrease of 3%[50] - Interest paid in cash increased to INR 11,866 million in Q3 2024, up from INR 9,484 million in Q3 2023, reflecting a rise of 25.3%[55] - Normalised loan repayment for Q3 2024 rose to INR 6,414 million, compared to INR 3,974 million in Q3 2023, marking an increase of 61.3%[55] Future Outlook - The company anticipates construction of between 1,900 to 2,400 MWs by the end of Fiscal Year 2025[21] - Forward-looking statements indicate potential risks including financing availability and regulatory changes that could impact future performance[42] Clean Energy Portfolio - The company’s clean energy portfolio stands at approximately 16.3 GW as of November 19, 2024, making it one of the largest globally[44]