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.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.