Surat-based KPI Green Energy, a solar and hybrid power provider, posted a total revenue of ₹3.61 billion (~$42.83 million) in the second quarter (Q2) of the financial year (FY) 2025, an increase of 67% year-over-year (YoY).

The earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 87% YoY to ₹1.34 billion (~$15.9 million).

The company posted a net profit of ₹698 million (~$8.28 million) in Q2 FY25, an increase of 101% over the same period last year.

KPI Green reported earnings per share (EPS) of ₹5.55 (~$0.066) compared to ₹3.21 (~$0.038) in the corresponding period last year.

As of September 30, 2024, the company has orders of more than 2,409 MW. It has over 1,148 MW in the captive power producer (CPP) segment. The company also has received orders for over 1,261 MW under the independent power producer (IPP) segment.

First half (1H) FY25

KPI Green posted a total revenue of ₹7.11 billion (~$84.37 million) in 1H FY25, an increase of 75% YoY. CPP comprised 87.9% of revenue, while IPP accounted for 12.1% of the company’s revenue.

The EBITDA for the period grew by 87% YoY to ₹2.67 billion (~$31.68 million).

The company posted a net profit of ₹1.36 billion (~$16.13 million) in 1H FY25, an increase of 100% over the same period last year.

KPI reported EPS of ₹11.03 (~$0.13) compared to ₹6.27 (~$0.074) in the corresponding period last year.

In the IPP segment, KPI has commissioned over 171 MW of operational capacity, with an additional 1,261 MW actively under execution. In the CPP segment, KPI has commissioned 336 MW of capacity for captive generation, with another 1,148 MW in the pipeline. In addition to its IPP and CPP projects, as of H1 FY25, KPI has commissioned 81 MW in hybrid projects, with a robust pipeline of over 1.1 GW in hybrid orders.

In June, KPI Green secured ₹6.86 billion (~$82.1 million) funding for a 200 MW solar project in Khavda, Gujarat.

KPI was one of the five companies declared winners in the Gujarat Urja Vikas Nigam’s auction to supply power from 500 MW grid-connected solar power projects with a 500 MW greenshoe option (Phase XXIV).