Sterling and Wilson Renewable Energy Ltd, part of Shapoorji Pallonji Group, on Thursday, July 13, reported a net loss of Rs 95.5 crore for the first quarter that ended June 30, 2023. In the corresponding quarter last year, the company posted a net loss of Rs 353.9 crore, the company said in a regulatory filing.
In this quarter (Q1 FY24), total revenue stood at Rs 515 crore during the period under review, declining 57.3 percent against Rs 1,206.9 crore in the corresponding period of the preceding fiscal.
At the operating level, the company narrowed the EBITDA loss to Rs 37.2 crore for the quarter against a loss of Rs 343.9 crore in the corresponding period in the previous fiscal.
Sterling and Wilson is a leading engineering, procurement, and construction (EPC) company in the country. It also operates across more than 30 nations with a strong presence in Asia, the Middle East, Africa, Europe, the Americas, and Australia.
Shares of Sterling and Wilson Renewable Energy Ltd ended at Rs 292.15, up by Rs 5.60, or 1.95 percent on the BSE.
