Suzlon Energy Shares Hit Record As Q1 Profit Jumps Threefold

Shares of Suzlon Energy Ltd. hit an upper circuit limit of 5% and an all-time high on Tuesday after its consolidated net profit jumped threefold in the first quarter of the current financial year.

The renewable energy firm posted a bottom line of Rs 302 crore in the quarter ended June, beating the consensus estimate of Rs 243.7 crore by analysts tracked by Bloomberg.

Suzlon Q1 FY25 Earnings Highlights (Consolidated, YoY)

• Revenue up 50% to Rs 2,022 crore versus Rs 1,351 crore (Bloomberg estimate: Rs 2,132 crore).

• Ebitda up 78% to Rs 367 crore versus Rs 207 crore (Estimate: Rs 239 crore).

• Ebitda margin at 18.2% versus 15.3% (Estimate: 11.2%).

• Net profit up 200% to Rs 302 crore versus Rs 101 crore (Estimate: Rs 243.7 crore).

"This is a good indication of our readiness to meet industry demand and leverage the tailwinds of the sector," the company said in its release. It added that its largest‐ever order book of 3.8 gigawatts gives it great visibility for the future.

Suzlon said all its businesses showed improvement in operational performance with tight control on costs, resulting in well-rounded and solid results.

Suzlon's stock rose as much as 5% in early trade to Rs 57.83 apiece on the NSE. It was trading 4.7% higher at Rs 57.64 per share, compared to a flat Nifty at 9:26 a.m.

The share price has risen 50.68% on a year-to-date basis and 203.85% in the last 12 months. The total traded volume on the NSE so far in the day stood at 1.43 times its 30-day average. The relative strength index was at 69.4.

All five analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 0.9%.

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