Inox Wind Limited (IWL) saw its shares rise significantly on Friday following the release of its first-quarter financial results. Here’s a summary of the key details:
Key Highlights
- Share Price Movement: Inox Wind shares were trading over 6% higher, reaching ₹184.17 as of 9:55 AM.
- Profit Turnaround: The company reported a profit of ₹50 crore for the June quarter, a significant improvement from the ₹65 crore loss recorded in the same period last year.
- Revenue Growth: Total revenue for the quarter surged 85% year-on-year, reaching ₹651 crore, up from ₹352 crore in the previous year.
Company Statements
- Leadership Commentary: Devansh Jain, Executive Director of INOXGFL Group, stated that the efforts of the past few years are now showing results. He highlighted the recent infusion of ₹900 crore by IWL’s parent company, IWEL, which has made Inox Wind net cash positive and strengthened its balance sheet.
- Orderbook and Future Prospects: Inox Wind’s CEO, Kailash Tarachandani, revealed that the company has an order book of around 2.9 gigawatts. The company has also secured orders for 611 megawatts in the ongoing financial year 2025.
Company Background
- About Inox Wind: Inox Wind Limited is a leading wind energy solutions provider in India, part of the USD 9 billion INOXGFL Group. The company serves independent power producers (IPPs), utilities, public sector units (PSUs), and corporate investors.
TOPICS:
Inox Wind