The company's total income (or total revenue) for Q2 FY23 was Rs 22,409 million, an increase of 5.1 per cent over Q2 FY22. The company in a statement said its adjusted operating profit or earnings before interest, taxes, depreciation, and amortisation (Ebitda) for Q2 FY23 was Rs 18,209 million, an increase of 0.1 per cent over Q2 FY22.
Cash Flow to equity for the quarter under review was Rs 7,125 million, an increase of 4.7 per cent over Q2 FY22.
Days Sales Outstanding ended Q2 FY23 at 231 days, which is a 41-day improvement year-on-year and the company increased its cash by Rs 4,881 million through a reduction in accounts receivables during the quarter.
The Gurgaon-headquartered company said $ 300 million in green bonds were redeemed during Q2 FY23. As of September 30, 2022, 50 per cent of total outstanding debt is local currency borrowing. A green bond is a type of debt security created for funding or re-funding projects contributing positively to the climate and/or ecosystem.
As of September 30, 2022, the Company's portfolio consisted of 13.4 GWs, a 30.8 per cent increase year on year. Approximately 1 GW of purchase power agreements was signed in the quarter, the renewable energy company said.
ReNew also said it entered into a partnership with Norfund, the Norwegian government's investment fund for developing countries, and KLP, Norway's largest pension company, to co-invest in ReNew's transmission projects. ReNew signed definitive documents to acquire shares in 3E, a software as a service (SaaS) solutions company offering asset performance management and analytics for renewable energy assets.
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