Advait Infratech has reported a net profit (profit after tax) of INR 583.16 lakh in the April-May-June quarter of FY 2024-25, around 300% increase over INR 146.48 lakh profit for the corresponding period of the last fiscal.
Advait Infratech has reported a net profit (profit after tax) of INR 583.16 lakh in the April-May-June quarter of FY 2024-25, around 300% increase over INR 146.48 lakh profit for the corresponding period of the last fiscal. Total income for the quarter more than doubled to INR 5,852.55 lakh compared to INR 2,743.66 lakh in Q1 FY 2023-24. This included INR 5,814.97 lakh revenue from operations (sales of goods and services).
Advait Infratech is one of the six firms that emerged as successful bidders for getting government incentives to set up facilities to manufacture electrolysers, a critical component required for green hydrogen production. The company, a power transmission, substation, and telecommunication infrastructure solutions provider, ventured into green energy in 2023 by forming a special purpose vehicle, Greenergy. Greenergy focuses on electrolyser assembly and manufacturing for hydrogen production, fuel cell supply, and sustainable services like carbon consultancy. Adavait’s Norwegian arm Advait Energy Holdings recently invested in the Norwegian company TECO 2030 that develops PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules.