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AIM Listed India focused Clean Energy company Greenko Group’s Full Year Pre-tax Profit Surges as Turnover Jumps 130%

Indian clean energy developer, owner and operator Greenko Group plc (GKO.L ) Monday said profit before income tax for the year ended March 31 was 14.00 million euros compared to 4.86 million euros last year.

Turnover increased by 130% to €44.4m and earnings before interest, tax, depreciation and amortisation rose to €25.2m from €7.9m last time.

Cash balances and deposits increased to €36.3m – up from €72.3m previously.

Profit attributable to equity holders of the company was 8.89 million euros versus 2.50 million euros in the previous year. On a per share basis, profit surged to 6.68 cents from 3.42 cents a year ago.

Revenue for the period was up to 44.45 million euros from 19.29 million euros in the year ago period.

CEO and managing director Anil Chalamalasetty said: “The group has enjoyed a successful twelve months in which we have not only delivered on our strategy to grow our clean energy portfolio overall, but we have also made significant progress in wind, which puts us at the forefront of our sector in India.

“We continue to deliver financially for our shareholders and have today reported record revenue and earnings. Most pleasingly, our prospects are brighter than ever.

“I am pleased to report that we are on track to meet our 2015 target of having 1GW of operational capacity and that there are considerable further opportunities to scale our business beyond that.

“Against this backdrop, the directors have confidence in the development of the group within the lucrative Indian energy market and look to the future with optimism.”

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