Servotech Power Systems reported impressive Q2 earnings, with consolidated net profit surging over three-fold to Rs 11.24 crore for the September quarter, up from Rs 3.12 crore in the same period last year. This growth was primarily fueled by a significant rise in income, which more than doubled to Rs 200.06 crore from Rs 86.59 crore in the year-ago period, according to the company’s exchange filing.
For the April-September period, Servotech’s net profit also grew two-fold, reaching Rs 15.73 crore, compared to Rs 7.23 crore for the corresponding period of the previous fiscal year.
The company also introduced a new range of advanced energy-related solutions. The product piping includes solar on-grid inverter, solar hybrid inverter, microinverters, battery storage system, and solar pump controller. The company elaborated, “The products are aligned with government initiatives like PM Surya Ghar Muft Bijli Yojana and PM-KUSUM Scheme.” The product line is aimed at both residential and commercial rooftops, with special attention given to providing solar energy to farmers, hence bringing in sustainable agriculture.
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Source: Moneycontrol
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