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Genus Power Infrastructures Ltd.’s shares were up by 4.98 per cent after the company announced its unaudited financial results for the quarter ending December 31, 2023. Its revenue grew 28.9 per cent to ₹258.3 crore, as compared to that in the same period last year.
EBITDA surged 33 per cent to ₹27.2 crore, from ₹20.5 crore in Q3FY23. However, employee costs and other expenses increased as the company expands its workforce and enhances systems to accommodate its order book.
Profit-after-tax for Q3FY24 totalled ₹13.5 crore, a 16.1 per cent increase from ₹11.6 crore in Q3FY23. Notably, rising financing expenses were highlighted, attributed to additional bank guarantees required to secure large orders.
The company secured a total order inflow of approximately ₹9,522 crore in Q3FY24, contributing to an order book exceeding ₹20,000 crore.
Genus Power also entered agreements with the GIC affiliate for funding smart metering projects and signed a commitment letter with the United States International Development Finance Corporation for a loan up to $49.5 million. The shares were up by 4.98 per cent at ₹278 at 10.36 am on the BSE.
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