Servotech Renewable Power Reports Strong Growth In Q3 FY25 Financial Results
The company posts significant revenue and profit increases, driven by demand for EV chargers and solar solutions
Servotech Renewable Power System (formerly known as Servotech Power Systems), a manufacturer of Electric Vehicle (EV) chargers and solar energy solutions, announced its financial results for the quarter and nine months ended 31 December 2024. The company reported a substantial growth in both revenue and profit for Q3 FY25.
For Q3 FY25, Servotech’s consolidated total revenue increased by 315.3 per cent, reaching Rs. 21,683.2 lacs, compared to Rs. 5,220.6 lacs in the same quarter of the previous year. The company’s EBITDA rose by 420.1 per cent, amounting to Rs. 1,672.8 lacs, while Profit Before Tax (PBT) increased by 590.2 per cent, standing at Rs. 1,282.5 lacs. Profit After Tax (PAT) grew by 616.8 per cent, reaching Rs. 798.7 lacs.
On a standalone basis, the company’s revenue for Q3 FY25 increased by 264.8 per cent, totalling Rs. 18,185.7 lacs, up from Rs. 4,984.5 lacs in Q3 FY24. EBITDA and PAT grew by 433.0 per cent and 659.8 per cent, respectively.
In the nine-month period, the company saw a 142.1 per cent increase in total consolidated revenue, which reached Rs. 52,934.0 lacs. The standalone revenue for the first nine months of FY25 grew by 148.6 per cent, totaling Rs. 46,236.9 lacs.
Raman Bhatia, Managing Director of Servotech, attributed the growth to the demand for EV infrastructure and solar products. He also stated that the company is aiming to manufacture 12,000 DC fast chargers in FY25 to meet increasing market demand.
