Inox Wind Soars After Return To Profit In June Quarter

Shares of Inox Wind Ltd. surged over 9% on Monday after it swung to profit in the first quarter of fiscal 2025. The wind turbine generator maker's net profit stood at Rs 50 crore in the quarter ended June 2024, as against a loss of Rs 65 crore in the year-ago period.

The company's order book has grown over twofold to 2.9 gigawatts, with a mix of independent power producers, commercial and industrial customers, and retail customers. In the first few months of this fiscal, Inox Wind has secured orders totalling 611 MW across customers, the company said.

Earnings before interest, taxes, depreciation, and amortisation advanced by 325% to Rs 136 crore. The operating margin improved from 21.3% to 9.2%.

Shares of Inox Wind rose as much as 9.02% during the day to Rs 189.9 apiece on the NSE. It was trading 6.07% higher at Rs 184.8 apiece, compared to a 0.33% decline in the benchmark Nifty 50 as of 10:40 a.m.

The stock has risen 267% in the last 12 months and 48% on a year-to-date basis. The total traded volume so far in the day stood at 5.5 times its 30-day average. The relative strength index was at 64.

Five out of the six analysts tracking the company have a 'buy' rating on the stock and one suggests a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 8.1%.