(PTI) ReNew Power on Friday reported a loss of ₹10.4 crore in April-June quarter of FY23 due to certain adjustment of one-time expense.
"Net loss for Q1 FY23 (April-June 2022) was ₹104 million (USD 1 million or ₹10.4 crore) compared to a net profit of ₹425 million (USD 5 million or ₹42.5 crore) for Q1 FY22 (April-June 2021)," a company statement said.
The company explained that the net loss includes a one-time expense for debt premium and the impact of a reclassification of a hedge loss from the balance sheet of ₹2,531 million (USD 32 million or ₹253.1 crore) for the refinancing of dollar bonds with lower cost rupee debt.
Total income (or total revenue) for Q1 FY23 was ₹25,007 million (USD 316 million or ₹2,500.7 crore), an increase of 48.8 per cent over Q1 FY22.
The translation of Indian rupees into US dollars has been made at ₹79.02 to USD 1.00, it stated.
As of June 30, 2022, the company's portfolio consisted of 12.9 GWs, a 30.3 per cent increase year-on-year, of which 7.6 GWs are commissioned and 5.3 GWs are committed. Subsequent to the end of the quarter, the company signed an additional ~0.3 GWs of PPAs (Power Purchase Agreement) bringing the company's total portfolio to 13.2 GWs currently, it stated.