Suzlon Energy Ltd. reported profit in the fourth quarter on account of higher operating income and margin, and a one-off gain on sale of assets and subsidiaries.
India's largest wind turbine manufacturer reported a consolidated net profit of Rs 320 crore in the quarter ended March 31, 2023, according to its exchange filing. That compares with a loss of Rs 205.52 crore over the same period last year.
Suzlon Energy Q4 FY23 Highlights
Revenue from operations fell 31.53% YoY in the quarter to Rs 1,694.08 crore.
Operating profit or Ebitda more than doubled to Rs 232.69 crore on lower cost of materials consumed.
The operating margins were higher by 947 basis points to 13.73% from 4.26% a year ago.
The company had a one-time gain or exceptional income of Rs 251.51 crore during the quarter on sale of foreign subsidiaries and assets such as plants, properties and land.
Shares of Suzlon closed 3.1% higher on Tuesday as compared with a 0.20% gain in the benchmark Sensex.
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