Inox Wind Reports Rs 50 Crore Profit in Q1 | Strong Revenue Growth
Aug 09, 2024 16:49
Inox Wind Limited reports a Rs 50 crore profit after tax in Q1 FY25, driven by a surge in revenue. The company's orderbook stands at 2.9 GW, with 611 MW secured in FY25.
New Delhi, Aug 9 (PTI) Inox Wind Limited (IWL) on Friday posted a Rs 50 crore profit after tax during the June quarter on account of a surge in income.
It had reported a loss of Rs 65 crore in the April-June quarter of the preceding financial year, the company said in an exchange filing.
The company's total revenue surged 85 per cent to Rs 651 crore from Rs 352 crore in the year-ago period.
Devansh Jain, Executive Director, INOXGFL Group, said "The hard work of last several years has started to yield results. Also, IWL's parent, IWEL has infused Rs 900 crore recently, making the company net cash positive and strengthening the balance sheet to capitalise on the multidecadal opportunity in the Indian wind sector."
The company has an orderbook of around 2.9 gigawatt, IWL CEO Kailash Tarachandani said adding the company won orders of 611 MW in the ongoing FY25.
Part of USD 9 billion INOXGFL Group, Inox Wind Limited (IWL) is India's leading wind energy solutions provider servicing IPPs (independent power producers), utilities, PSUs (public sector units) and corporate investors PTI ABI
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