WindForce PLC has reported an exceptional financial performance for the first quarter of the 2024/25 fiscal year, showcasing significant growth across key metrics. The company’s EBITDA surged by an impressive 87%, reaching Rs. 1.95 billion, up from Rs. 1 billion during the same period last year, reflecting the company’s strategic advancements and robust market position.
For the quarter ending June 30, the group’s consolidated revenue soared to Rs. 1.56 billion, a 28% increase from Rs. 1.22 billion the previous year. Net profits also saw substantial growth, rising 27% to Rs. 652 million, compared to Rs. 514 million in the first quarter of the previous year.
A major contributor to this exceptional performance was the successful commissioning of the Hiruras 15 MW wind power plant in June/July 2023, which significantly boosted WindForce’s production capacity and revenue streams. The wind sector alone reported a 37% increase in revenue, while the hydro sector also performed remarkably, with a 67% rise in electricity generation revenue, driven by the inclusion of the Mahoma plant as a subsidiary since January 2024, contributing an additional Rs. 74 million to the group’s earnings.
Further cementing its leadership in the renewable energy sector, WindForce’s subsidiary, Solar Universe Ltd., was awarded the Gold trophy for its outstanding solar power initiatives. The Bulathwatte mini hydro power plant also received the Bronze trophy for its contributions to the mini hydro power category.
These accolades, combined with the strong financial results, underscore WindForce PLC’s commitment to innovation, environmental sustainability, and its leadership in the renewable energy industry.