Net profit of Swelect Energy Systems reported to Rs 7.93 crore in the quarter ended December 2023 as against net loss of Rs 0.76 crore during the previous quarter ended December 2022. Sales rose 147.91% to Rs 63.54 crore in the quarter ended December 2023 as against Rs 25.63 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales63.5425.63 148 OPM %36.9539.25 - PBDT19.279.30 107 PBT9.273.05 204 NP7.93-0.76 LP Powered by Capital Market - Live News

Swelect Energy Systems will hold a meeting of the Board of Directors of the Company on 9 February 2024.Powered by Capital Market - Live News

The Board of Swelect Energy Systems has on 27 January 2024 approved the incorporation of a wholly owned subsidiary - SWELECT Sustainable Energy. This subsidiary will engage in generation of solar power by setting up solar power plant. Once the proposals received from the industrial consumers have been materialized, the electricity generated by this subsidiary will be sold to the industrial consumers around Tamil Nadu based on the requirements of the respective consumers. Powered by Capital Market - Live News

Swelect Energy Systems has received upgrade in credit ratings from CRISIL as under:Total Bank Loan Facilities - Rs.345 crore Long Term Rating - CRISIL A-/Stable (Upgraded from `CRISIL BBB+/Stable`)Short Term Rating - CRISIL A2+ (Upgraded from `CRISIL A2`)Rs.100 crore Non-Convertible 0Debentures (yet to be issued) - CRISIL A-/Stable (Assigned)Powered by Capital Market - Live News

Net profit of Swelect Energy Systems declined 43.72% to Rs 2.33 crore in the quarter ended September 2023 as against Rs 4.14 crore during the previous quarter ended September 2022. Sales declined 83.12% to Rs 19.73 crore in the quarter ended September 2023 as against Rs 116.91 crore during the previous quarter ended September 2022. ParticularsQuarter Ended�Sep. 2023Sep. 2022% Var. Sales19.73116.91 -83 OPM %23.9712.42 - PBDT6.0116.18 -63 PBT2.3312.79 -82 NP2.334.14 -44 Powered by Capital Market - Live News