Gensol Engineering was locked in 5% upper cictuit at 829.35 after the company said that it had crossed the important revenue milestone of Rs 100 crore in Q1 FY23.
The company had reported a total standalone revenue of Rs 155.85 crore during the entire FY22.
It believes that the solid results illustrate the ongoing positive momentum in the renewable energy sector and remains optimistic about the remaining period of this fiscal year.
The company further stated that it continues to grow its national footprint while concurrently increasing its project sizes, which testifies to its sharpening project delivery skills.
Gensol Engineering is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.
The company's consolidated net profit surged to Rs 8.78 crore in the quarter ended March 2022 as against Rs 2.29 crore during the previous quarter ended March 2021. Sales jumped 183.86% YoY to Rs 126.80 crore in Q4 FY22.
In the past one year, the stock has zoomed 1317.69% while the benchmark Sensex has gained 6.4% during the same period.