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					</table><p>The consolidated net loss for <a href="https://www.sterlingandwilsonre.com/" target="_blank" rel="noopener">Sterling and Wilson </a>Renewable Energy (formerly Sterling and Wilson Solar) rose by 5% to ₹2.99 billion (~$36.35 million) in the second quarter (Q2) of the financial year (FY) 2023, mainly due a slump in revenues in the engineering, procurement, and construction (EPC) segment.</p>
<p>On a sequential basis (QoQ), the net loss was 19% lower in the June-September quarter compared with ₹3.56 billion (~$43.27 million) in the preceding quarter.</p>
<p>The company, which is a solar engineering and construction arm of the Shapoorji Pallonji Group, posted revenue of ₹2.74 billion (~$33.31 million) from the EPC segment, an 80% fall compared to ₹13.76 billion (~$174.81 million) during the same period last year. The numbers were down by 76% compared to ₹11.62 billion (~$146.72 million) during the previous quarter.</p>
<p>The company’s total income fell by 72% to ₹4.11 billion (~$49.96 million) in Q2 FY 2023 compared to ₹14.7 billion (~$178.69 million) in the corresponding period a year ago. The numbers decreased by 66.6% QoQ compared to ₹12.11 billion (~$147.21 million) in the preceding quarter.</p>
<p>For the first six months (1H) of FY 2023 that ended September 30, the company registered a net loss of ₹6.55 billion (~$79.62 million), an increase of 81.4% compared to ₹3.61 billion (~$43.88 million) during 1H FY 2022.</p>
<p>Recently, the company <a href="https://mercomindia.com/sterling-wilson-order-%e2%82%b922-billion-ntpcs-1255-mw-project/" target="_blank" rel="noopener">emerged</a> as the lowest (L1) bidder for the balance of system (BoS) package comprising four blocks of the proposed 1,255 MW of solar power projects being developed by NTPC Renewable Energy at the Khavda Renewable Park.</p>
<p>Earlier, Reliance New Energy Solar, the green energy arm of Reliance Industries, <a href="https://mercomindia.com/reliance-completes-acquisition-sterling-wilson/" target="_blank" rel="noopener">completed</a> the 40% stake acquisition in Sterling and Wilson Renewable Energy. In February this year, Reliance had purchased 19.66 million Sterling and Wilson Renewable Energy shares in an off-market deal.</p>
<p>Sterling and Wilson had <a href="https://mercomindia.com/top-utility-scale-solar-epc-2021/" target="_blank" rel="noopener">emerged</a> as one of the top engineering, procurement, and construction (EPC) service-providing companies in Mercom’s <a href="https://mercomindia.com/product/mercoms-india-solar-market-leaderboard-2022-market-shares-and-profiles/" target="_blank" rel="noopener">India Solar Market Leaderboard 2022</a>. Sterling and Wilson led the segment with a market share of 12%.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Sterling and Wilson Q2 Net Loss Widens to ₹2.99 Billion With Steep Fall in EPC Revenues

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