During the quarter, profit before tax was at Rs 17.42 crore, steeply higher than Rs 3.74 crore in Q3 FY23.

EBITDA stood at Rs 70 crore in Q3 FY24, up 312% from Rs 17 crore in Q3 FY23 while EBITDA margin contracted to 30.8% in Q3 FY24 as against 32.2% in Q3 FY23.

In Q3 FY24, revenue from leasing business surged 193.71%YoY to Rs 32.22 crore while EPC business declined 51.41% YoY to Rs 17 crore.

Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering, said, “As we continue to spearhead India's energy revolution by leading the charge in Green Hydrogen and tapping into high-growth projects for a greener future, Gensol remains at the forefront of driving innovation, unlocking immense potential for the nation’s renewable energy integration

Reflecting on our performance in the first nine months of fiscal year 2024, we are pleased to report robust results. This underscores our dedication to sustained growth and innovation in renewable energy and eMobility sectors. Our ability to drive top-line revenue and enhance bottom-line performance through prudent financial management and operational excellence positions us well for continued success in the upcoming quarters."

Gensol provides concept to commissioning solar advisory, execution and operation services for solar projects in India and abroad. It has also established a cutting-edge electric vehicle (EV) manufacturing facility in Pune, India. The company offers comprehensive EV leasing solutions and is serving diverse range of B2B customers.