Wind energy solutions provider Inox Wind Ltd on Friday (May 3) reported a consolidated net profit of ₹36.7 crore for the fourth quarter that ended March 31, 2024.
In the corresponding quarter, Inox Wind posted a net loss of ₹119 crore, the company said in a regulatory filing.
Part of the $8 billion INOXGFL Group, Inox Wind Limited (IWL) is India's leading wind energy solutions provider servicing independent power producers (IPPs), utilities, public sector units (PSUs) and corporate investors.
Inox Green Energy Services Ltd reported a net profit of ₹20.6 crore for the fourth quarter that ended March 31, 2024.
Shares of Inox Wind Ltd ended at ₹614.90, down by ₹12.30, or 1.96%, on the BSE.
Wind energy solutions provider Inox Wind Ltd on Friday (May 3) reported a consolidated net profit of ₹36.7 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Inox Wind posted a net loss of ₹119 crore, the company said in a regulatory filing.
The company's revenue from operations zoomed 176.69% to ₹527.7 crore against ₹190.8 crore in the corresponding period of the preceding fiscal. The company's expenses stood at ₹512.50 crore during the period under review against ₹312.43 crore in the year-ago period.
Inox Wind’s order book stands at 2.7 GW with a healthy mix of PSUs, IPPs, C&I and retail. The company has recently secured a 210 MW order from Hero Future Energies.
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Kailash Tarachandani, CEO of Inox Wind, said, "The Q4 has been a milestone quarter for the company as we successfully transitioned to 3 MW WTG (wind turbine generators) supplies from 2 MW WTGs. Our debt levels have also come down drastically and we expect to be net debt free within H1 FY25.”
The company secured the single-largest wind project order of 1,500 MW from a leading power utility during the quarter, resulting in a healthy order book of 2.7 GW (excluding letter of intent) having a revenue potential of ₹18,000 crore.
Part of the $8 billion INOXGFL Group, Inox Wind Limited (IWL) is India's leading wind energy solutions provider servicing independent power producers (IPPs), utilities, public sector units (PSUs) and corporate investors.
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In the corresponding quarter, Inox Green Energy Services posted a net loss of ₹1.8 crore, the company said in a regulatory filing.
The company's revenue from operations dipped 7.7% to ₹52.4 crore as against ₹56.8 crore in the corresponding period of the preceding fiscal.
Inox Green Energy Services Ltd reported a net profit of ₹20.6 crore for the fourth quarter that ended March 31, 2024.
The results came after the close of the market hours. Shares of Inox Wind Ltd ended at ₹614.90, down by ₹12.30, or 1.96%, on the BSE.
