Suzlon Energy Q2 Results: Net Profit Surges Six-Fold On The Back Of Tax Write-Back
Suzlon Energy Ltd.'s consolidated net profit went up six-fold in the second quarter of the current financial year. The renewable energy firm posted a net profit of Rs 1,279 crore in the September quarter as compared to Rs 200.20 crore in the year-ago period, according to an exchange filing on Tuesday.
Tax write-back in the quarter ended September was of Rs 718 crore.
The company's revenue rose 84.1% to Rs 3,872 crore as against Rs 2,103 crore in the same quarter last year.
Earnings before interest, tax, depreciation and amortisation went up to Rs 728 crore from Rs 292 crore while margin stood at 18.8% as against 32.8%. in the year-ago period.
Suzlon Energy Q2 Highlights (Consolidated, YoY)
Net Profit at Rs 1,279 crore versus Rs 200 crore.
Revenue up 84.1% at Rs 3,872 crore versus Rs 2,103 crore.
Ebitda at Rs 728 crore versus Rs 292 crore.
Margin at 18.8% versus 13.9%.
The company reported its highest-ever second quarter India deliveries of 565 MW, with the Wind Turbine Generator (WTG) business continuing its robust growth through strong operating leverage.
The order book crossed 6 GW, with over 2 GW of additions in first half of this financial year taking it to 6.2 GW. The company maintained a net cash position of Rs 1,480 crore as of Sept. 30 and operates India's largest domestic wind manufacturing capacity at 4.5 GW.
"We've been entrusted with a record 6.2 GW orderbook by our customers. Our strategy of decoupling project development and project execution will drive execution volumes significantly. With long-term visibility of 400 GW wind capacity by 2047, I'm confident we'll continue leading the market,” said Girish Tanti, Vice Chairman, Suzlon Group.
Suzlon Energy Share Price Today
Shares of Suzlon Energy rose as much as 2.55% higher at Rs 60.75 apiece on the NSE. It pared gins to trade 1.87% higher at Rs 60.35 compared to a 0.40% fall in the benchmark Nifty as of 11:32 a. The stock has fallen 11.98% in the last 12 months and 3.28% on a year-to-date basis.
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