Premier Energies reports a 34.1% rise in quarterly revenue as recent capacity expansions and increased domestic demand drive its earnings, highlighting India’s strategic push towards renewable energy independence.
Premier Energies has reported a sharp rise in quarterly earnings as its push to expand manufacturing capacity begins to feed through to sales and margins. The integrated solar manufacturer said revenue for the three months to June 30 reached INR 25.08 billion, up 34.1% from a year earlier, while earnings before interest, tax, depreciation and amortisation increased 27.2% to INR 7.59 billion. Profit after tax climbed 53.3% to INR 4.72 billion.
The company’s operating performance was backed by higher output across its core businesses, with production of 844 MW of solar cells, 953 MW of modules and 570 MVA of transformers during the quarter. Premier Energies said the improvement reflected stronger execution, added capacity and firm demand for domestically made solar modules, a segment that has benefited from India’s drive to reduce reliance on imports.
The latest results come after Premier Energies inaugurated its 5.6 GW module plant at Seetharampur in Telangana, a 75-acre site that lifts its total module manufacturing capacity to 11.1 GW, according to reports by Business Standard and SolarQuarter. Those reports said the facility includes advanced G12R TOPCon lines, automated guided vehicle material handling and AI-based quality checks, while the company also broke ground on a 6 GWh battery energy storage system plant and an 18,000-tonne-a-year aluminium frames unit.
Managing director Chiranjeev Saluja said the company’s integrated manufacturing model, technology focus and disciplined execution were central to its growth. He added that the Seetharampur opening and progress at the 7 GW solar cell plant in Naidupeta should support a further step-up in operating and financial performance over the coming year as those facilities move closer to commissioning.
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