Suzlon Energy Share Price Surges Over 13% After Q4 Profit Grows Over Four Times
Suzlon Energy's net profit surged by an astounding 365%, reaching Rs 1,182 crore, compared to Rs 254 crore in the previous year.
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Suzlon Energy Ltd.'s share price surged 13.57% after its fourth quarter net profit grew over four times.
Net profit surged by an astounding 365%, reaching Rs 1,182 crore, compared to Rs 254 crore in the previous year. This figure was well above the Bloomberg estimate of Rs 456 crore.
The company's revenue also increase of 73% year-on-year to Rs 3,790 crore in the fourth quarter, compared to Rs 2,196 crore in the previous year. But it was slightly below the Bloomberg estimate of Rs 3,842 crore.
Ebitda saw a rise of 104% to Rs 724 crore, significantly higher than the previous year's Rs 355 crore and surpassing the Bloomberg estimate of Rs 267 crore.
The Ebitda margin improved to 19.1% from 16.2%, though it fell short of the Bloomberg estimate of 21.9%.
Suzlon Energy Share Price Today
Shares of Suzlon Energy rose as much as 13.57% to Rs 74.30 apiece. They pared gains to trade 11.56% higher at Rs 72.98 apiece, as of 09:45 a.m. This compares to a flat NSE Nifty 50.
The stock has risen 60.75% in the last 12 months. Total traded volume so far in the day stood at 13 times its 30-day average. The relative strength index was at 78.
Out of eight analysts tracking the company, six maintain a 'buy' rating and two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 3.1%.
