"Vikram Solar’s Q3 profit surges 400% to ₹98 crore alongside an approved ₹4,371-crore investment in battery energy storage."

Solar module manufacturer Vikram Solar recently reported a more than five-fold jump in net profit to ₹98.15 crore for the third quarter of the current fiscal, driven by strong volume growth and improved operating efficiency.

The company had recorded a net profit of ₹19.02 crore in the corresponding quarter of the previous fiscal.

Separately, the board approved a capital expenditure of ₹4,371 crore to enter the battery energy storage systems (BESS) segment as part of its plans to set up an integrated lithium-ion cell and battery manufacturing facility. The first phase of the project will be implemented through VSL Powerhive, a wholly owned subsidiary of Vikram Solar.