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MumbaiTrom Industries, a residential and industrial solar power company, reported that its net profit doubled to ₹4 crore in the first half of this fiscal.
SME Exchange listed companies are mandated to announce their financial results half yearly.
Net sales of the company was up 99 per cent to ₹46 crore (₹23 crore) for the half year ended September.
Jignesh Patel, Managing Director, TROM Industries said the company recently bagged solar projects worth ₹33 crore from Gujarat Metro Rail Corporation and Corona Remedies.
The focused approach to reduce cost and meet the growing demand for the company’s innovative solar products has driven growth over the period, he said.
The company will complete orders worth ₹21 crore this fiscal, he added.
The company got listed on NSE Emerge in August and raised ₹31 crore. It executes solar projects for industries, residential rooftops, ground-mounted solar power plants and solar streetlights.
Shares of the company were up 11 per cent at ₹251 on Thursday.
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