Suzlon Energy Ltd on October 28 reported 96% jump in net profit at Rs 201 crore for the quarter ended September 30, 2024 due to record order wins and robust margins.
The renewable energy firm said its revenue rose 48% to Rs 2,093 crore in Q2FY25. The company said its EBITDA rose 31% to Rs 294 crore and order book was at all‐time high 5.1 GW including "India’s largest wind order from NTPC". But EBITDA margin declined to 14.1 per cent from 15.9 per cent in the same quarter last year.
Girish Tanti, Vice Chairman, Suzlon Group, said, “Our core business is now on solid foundation to capitalise on the market momentum. We've fortified our leadership team, stabilised our new product offerings, ramped up our manufacturing capacity, enhanced our project execution capabilities, and built a robust order book. As the renewable energy sector continues to evolve, we're seizing the chance to explore new opportunities that align with our strategic objectives. To help us crystallise the most relevant prospects, we've engaged a leading global management consulting firm to provide expert guidance and insights."
On October 28, the company's shares on BSE closed 5% higher at Rs 70.99 apiece.
JP Chalasani, Chief Executive Officer, Suzlon Group, said: "We are confident in the long‐term potential of our business with a clear focus on innovation and growth. Our record‐high order book and partnerships with esteemed clients, like Jindal and NTPC, showcase the strength of our strategy and commitment to customer excellence. As India’s renewable energy journey unfolds, Suzlon is positioned to lead this transformation with sustainable, future‐ready solutions. Strengthening industry fundamentals, enhanced operational efficiency, and a revitalised supply chain will empower us to meet increased project execution demands. With growing momentum in the C&I and PSU segments and a dynamic bidding environment, we are poised for sustained growth and success."
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
