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ReneSola posts first profit in 10 qtrs as solar module shipments rise
March 24, 2014 / 12:15 PM / 4 years ago

ReneSola posts first profit in 10 qtrs as solar module shipments rise

March 24 (Reuters) - Chinese solar products maker ReneSola Ltd posted its first profit in 10 quarters, helped by higher shipments of solar modules.

The company’s net profit attributable to shareholders was $800,000, or 1 cent per American depositary share (ADS), for the fourth quarter ended Dec. 31 compared with a loss of $88.9 million, or $1.03 per ADS, a year earlier.

Revenue rose about 43 percent to $438.8 million.

A recovery in solar panel prices after a four-year slump has helped most solar companies such as Trina Solar Ltd and JA Solar Holdings Co Ltd post profits in recent quarters. (Reporting by Anannya Pramanick in Bangalore; Editing by Kirti Pandey)

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