New Delhi, 23 February (IANS). The deficit of Rooftop Solar Solutions provider SolarSkwire has increased by 130 percent to Rs 69 crore in FY 24 on an annual basis, which was Rs 30 crore in FY 23.
Due to the increase in the loss of the company, the total expenditure is 65.9 percent increase, which has increased to Rs 229 crore in FY 24, which was Rs 138 crore in FY 23.
According to the company’s financial description, the material cost is the largest component of the company’s expenses. In FY 24, it has increased by 52.27 percent to Rs 134 crore in FY 24. At the same time, employee spending has increased by 105.56 percent to Rs 37 crore on an annual basis.
In the last financial year, the company has spent Rs 8 crore on finance and rental.
In FY 24, the company’s income from operating has increased by 63.6 percent to Rs 175 crore on an annual basis, which was Rs 107 crore in FY 23.
The biggest stake in the company’s income is products. In FY 24, the company’s income from sales has increased by 66.35 percent to Rs 173 crore. However, the company’s income from services has come down by 33.33 percent to Rs 2 crore on an annual basis.
If the income of Rs 3 crore from other items is also added, then the total income of the company in FY 24 has been Rs 178 crore, which was Rs 108 crore in FY 23.
The company’s EBITa margin has been -35.96 percent in FY 24 due to continuous damage. Last financial year, the company has spent Rs 1.31 to earn one rupee.
The company’s total assets in FY 24 were Rs 120.5 crore. It also includes cash of Rs 60 crore.
According to reports, solarscavire has so far raised $ 56 million funds from investors. Prominent investors of the company include elevation capital, Lowercarbon Capital and Good Capital.
-IANS
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