Insolation Energy’s revenue jumps 105% on soaring solar project demand despite profit dip

Insolation Energy reports a 105% increase in first-quarter revenue driven by growing demand across solar project sectors, even as profits decline amid expansion plans.

Insolation Energy reported a sharp jump in first-quarter revenue as demand strengthened across utility-scale, rooftop, commercial and industrial solar projects, alongside government-backed clean energy work. The Jaipur-based module maker said revenue rose to ₹7.41 billion from ₹3.62 billion a year earlier, an increase of 104.7%, according to Mercom India.

The surge in sales did not translate into higher bottom-line profit. Insolation Energy posted net profit of ₹380 million for the quarter, down 11.8% from ₹431 million a year earlier, while earnings per share slipped to ₹1.73 from ₹1.96. The company’s latest results come as it continues to scale production from its Jaipur base, where it operates three manufacturing units and says its combined module capacity stands at 5.5 GW. Its website says the facilities use automation, AI-assisted quality checks and vertically integrated processes to support production for residential, commercial, industrial and solar farm customers.

The company is also expanding beyond modules. In July, Insolation Green Energy, a subsidiary, won a ₹5.58 billion contract to supply solar modules to NTPC Renewable Energy, with execution due in FY2026-27, Mercom India reported. Insolation’s own corporate history says it has grown rapidly since 2017 and has been building out capacity in Rajasthan and Madhya Pradesh, including plans for a 4.5 GW solar cell line and an 18,000 metric-tonne aluminium frame unit. Separate industry reports earlier this year said the company was preparing to begin solar cell production from September 2026 and was also planning wafer and ingot manufacturing as it moves further into backward integration.