Inox Wind Ltd. swung to profit in the first quarter of fiscal 2025, while operating profit and margin saw growth.
The wind turbine generator maker's profit stood at Rs 50 crore in the June quarter, as against a loss of Rs 65 crore in the year-ago period, according to an exchange filing on Friday. This compares to the Rs 42.1-crore net profit consensus estimate by analysts tracked by Bloomberg.
Inox Wind Q1 FY25 Result Highlights (Consolidated, YoY)
Revenue up 83% at Rs 639 crore versus Rs 349 crore (Bloomberg estimate: Rs 704.8 crore).
Ebitda up 325% at Rs 136 crore versus Rs 32 crore (Bloomberg estimate: Rs 107.1 crore).
Ebitda margin at 21.3% vs 9.2% (Bloomberg estimate: 15.2%).
Net profit at Rs 50 crore versus loss of Rs 65 crore (Bloomberg estimate: Rs 42.1 crore).
The company’s order book has grown over two fold to 2.9 GW with a mix of PSUs, Independent Power Producers, Commercial and Industrial and retail customers. In the first few months of this fiscal, Inox Wind has secured orders totalling 611 MW across customers, the company said.
"IWEL has infused Rs 900 crore recently, making the company net cash positive and strengthening the balance sheet to capitalise on the multi-decadal opportunity in the Indian wind sector," said Executive Director Devansh Jain.
Shares of Inox Wind closed 1.34% higher at Rs 174.2 apiece, ahead of the announcement, compared to 1.04% advance in the benchmark BSE Sensex.
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