Energy Development Company Q1 Results Revenue ₹43.58 Lakhs & Net Loss ₹197.11 Lakhs

Energy Development Company Q1 Results

Energy Development Company Q1 Results: Energy Development Company reported its financial results for the first quarter ending June 30, 2024. The company generated revenue of ₹43.58 lakhs from operations, which is slightly lower compared to the same quarter last year (₹45.81 lakhs). Total income for the quarter stood at ₹48.93 lakhs. 

However, Energy Development Company faced higher expenses, totaling ₹249.66 lakhs, resulting in a significant loss. The loss before tax was ₹200.73 lakhs, which shows some improvement from the loss of ₹247.71 lakhs in the previous quarter but is still concerning. After accounting for taxes, the net loss for the quarter was ₹197.11 lakhs. 

Energy Development Company’s generating division brought in all the revenue, but it also incurred a loss before tax and finance costs of ₹75.11 lakhs. The contract division and trading division also reported small losses. As of June 30, 2024, the company had total assets of ₹25,831.87 lakhs and total liabilities of ₹9,806.56 lakhs. The overall financial performance indicates challenges in managing costs and achieving profitability.

Here’s the full data: 

Source: Here 

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Energy Development Company Financial Metrics 

Energy Development Company table provides key financial details about the Company. Their market cap is ₹140 crores, indicating its total market value. The current price of the stock is ₹29.4, with a high of ₹36.8 and a low of ₹16.0 over a specific period. 

Here's the information in table format:

Quarterly Results 

Energy Development Company's financial performance showed fluctuations for the period of December 2023 to June 2024. In December 2023, the company had strong sales of Rs. 9.18 crores and a decent operating profit of Rs. 6.37 crores, with an operating profit margin (OPM) of 69.39%. 

Here's the table with only the data for December 2023, March 2024, and June 2024:

About Energy Development Company 

Energy Development Company is a company in India that focuses on creating clean, renewable energy. Established in 1995, EDCL is dedicated to helping the country develop sustainable energy sources, particularly through hydropower and wind power. 

Energy Development Company currently produces 19 MW of renewable energy from its own power plants and is working on developing 291 MW of hydroelectric power through various projects. Over the next 5 to 7 years, EDCL plans to expand significantly, aiming to create and own 500 MW of new hydroelectric power projects. This expansion will require an investment of about Rs. 7000-8000 crores.

Energy Development Company is known for its expertise in providing comprehensive solutions for hydropower projects. They offer a range of services, including feasibility studies, project management, engineering, procurement, construction, and turnkey delivery of projects. In addition to building new plants, they also offer services to maintain, renovate, and modernize existing hydropower plants. 

Energy Development Company’s mission is to achieve high customer satisfaction, which in turn benefits its shareholders. EDCL is committed to improving its services and technology continuously to stay at the forefront of the renewable energy sector and contribute to India’s sustainable energy future.