• Source:JND
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Servotech Renewable Q4 Result: Due to increased revenues, Servotech Renewable Power System reported a twofold increase in net profit to Rs 7.71 crore for the March quarter. In a filing on Wednesday, the company stated that its January-March net profit for the previous 2023–24 fiscal year was Rs 3.45 crore. From Rs 136.65 crore in the fourth quarter of the previous fiscal year to Rs 147.46 crore in the fourth quarter, the company's revenues climbed by 8%. The total revenue for FY25 was Rs 676.80 crore, up 91% from FY24's Rs 355.26 crore.

Raman Bhatia, Managing Director, Servotech Renewable Power System said, "We have recorded robust growth, underpinned by our efforts to strengthen India’s EV charging infrastructure and expand access to clean solar energy.

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These outcomes demonstrate the increasing confidence in our vision and capabilities and solidify our leadership position in the green energy transition. According to him, the company's goals are to increase domestic production, scale up innovations, and introduce Made in India products to foreign markets.

Entrepreneur and global business strategist Errol Musk, the father of billionaire Elon Musk, who owns SpaceX, Tesla, and the microblogging site X, was named to Servotech Renewable Power Systems' Global Advisory Board on Monday.

Musk will take part in a tour of Servotech's Indian manufacturing facilities as part of his engagement. Through carefully planned roundtable discussions, he will interact with important government and investor groups. Tech-enabled EV charging solutions are developed by Servotech Renewable Power System Ltd, a company listed on the NSE.

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(With Inputs From PTI)

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