Moneycontrol Bureau
Inox Wind disappointed analysts with third quarter earnings on Monday. Consolidated profit increased 2 percent year-on-year to Rs 103 crore, supported by other income but impacted by slow revenue growth and weak operational performance.
Revenue rose 0.9 percent to Rs 941 crore in quarter ended December 2015 compared to Rs 932 crore in corresponding quarter of last fiscal.
Profit was expected at Rs 143 crore on revenue of Rs 1,260 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.
Operating profit declined 1 percent year-on-year to Rs 154 crore and margin contracted by 30 basis points to 16.4 percent in Q3, which were lower than forecast of Rs 214 crore and 17 percent, respectively.
Other income jumped five-fold to Rs 15 crore while finance cost increased 25 percent to Rs 20 crore on yearly basis.
At 14:55 hours IST, the scrip of Inox Wind was quoting at Rs 278.60, down Rs 16.40, or 5.56 percent amid high volumes on the BSE.
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