Zodiac Energy’s Total Income Jumps 144.56% YoY in Q1 FY25

Zodiac Energy Limited, a prominent player in the renewable energy sector with over 30 years of expertise, announced its unaudited financial results for the quarter ended June 30, 2024.

The company reported a significant rise in Total Income to ₹79.59 crore in Q1 FY25, marking a 144.56% increase from ₹32.54 crore in Q1 FY24. EBITDA for the quarter stood at ₹4.44 crore, reflecting a 76.68% growth from ₹2.51 crore in the same quarter last year. Net Profit saw a surge of 184.36%, reaching ₹2.33 crore, compared to ₹0.82 crore in Q1 FY24.

Commenting on the performance for the quarter, the Chairman and Managing Director of Zodiac Energy Limited, Mr Kunj Shah, said, “We are pleased to report a period of significant growth and success for our company. Our strategic initiatives and expansion into new markets have driven a notable increase in revenue, demonstrating our ability to deliver value and meet client needs. Our focus on operational efficiency and cost management has led to improved operating profits and a substantial rise in net profit, highlighting our commitment to optimising processes and ensuring sustainable profitability.”

He further added, “Additionally, the Qualified Institutions Placement (QIP) Committee has approved the allotment of 4,35,700 equity shares at ₹688.50 per share, raising approximately ₹30 crore. This has increased the company’s paid-up equity share capital to ₹15.10 crore. The capital infusion will support expansion into the developer market, including the 26.8 MW solar projects under the PM-KUSUM Scheme, and provide financial flexibility for strategic investments. Notable financial institutions, such as Bank of America and NAV Capital, participated in the QIP, highlighting their confidence in the company’s strategic direction.”

He stated that their team remains committed to driving innovation, maintaining the competitive edge, and executing growth strategies to enhance shareholder value as the company looks forward to future opportunities.

About Zodiac Energy Limited

Zodiac Energy specialises in providing comprehensive turnkey solutions in the energy sector, covering everything from design to maintenance of power plants. The company has a portfolio in the renewable energy domain, particularly in solar power installations, serving a diverse clientele. In FY24, Zodiac Energy reported a revenue of ₹220.06 crore, a Net Profit of ₹10.97 crore, and an EPS of ₹7.50, solidifying its position as a key player in the industry.

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