Suzlon Energy Ltd. reported a strong growth in profit and revenue in the third quarter of the current fiscal. Consolidated net profit jumped 15% to Rs 445 crore in the October-December quarter, compared to Rs 389 crore in the year-ago period, according to a stock exchange filing on Thursday.
Revenue from operations soared 42% to Rs 4,228 crore versus Rs 2,986 crore last year. Operational performance improved as earnings before interest, tax, depreciation and amortisation jumped 48% to Rs 731 crore from Rs 493 crore in the corresponding quarter last year. Margin expanded to 17.3% versus 16.6%.
The company’s orderbook stood at 6.4 gigawatt and reported the highest-ever quarter deliveries at 617 MW. Suzlon has 2.4 GW of execution projects underway.
“Our closing order book of 6.4 GW stands higher than the opening orderbook for the quarter, despite the highest-ever deliveries in 30 years. This reflects the demand for our solutions and the effectiveness of our execution,” said Chief Executive Officer JP Chalasani.
Shares of Suzlon Energy fell as much as 5.7% after the results, compared to a 0.5% decline in the benchmark Nifty 50. The stock has fallen 14% on a 12-month basis.
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