SECI reports robust financial performance for FY'24

New Delhi: Solar Energy Corporation of India Limited (SECI), a prominent player in the renewable energy (RE) sector, has announced its financial results for the fiscal year 2024 (FY'24).

SECI has awarded 8,440 MW of RE tenders, including solar, wind, and hybrid power, during FY'24, bringing its cumulative awarded capacity to 65,317 MW. The company also saw a significant increase in its annual trading volume, which rose by 22.13 percent to 42,935 million units of electricity traded.

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On a standalone basis, SECI reported a total income of Rs 13,135.80 crore, a 20.91 percent increase from the previous year's Rs 10,864.43 crore. The profit after tax (PAT) surged by 38.14 percent to Rs 436.03 crore, up from Rs 315.65 crore in FY'23.

Consolidated results also showcased strong growth, with the group's PAT for FY'24 reaching Rs 510.92 crore, marking a 34.89 percent rise compared to Rs 378.77 crore in the previous fiscal year. The company's net worth increased by 18.32 percent, standing at Rs 2,811.76 crore, up from Rs 2,376.31 crore the previous year.

SECI is a PSU under the administrative control of the Ministry of New and Renewable Energy (MNRE). I was set up to facilitate the implementation of National Solar Mission (NSM) and achievement of targets set therein. It is the only PSU dedicated to the renewable energy sector.

The company also has a Category 1 power trading license and is active in this domain through trading of solar power from projects set up under the schemes being implemented by it

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