Suzlon Vitality Q2 Outcomes: Revenue rises 79% YoY to Rs 102 crore on higher working present

Main wind participant Suzlon Vitality reported a 79% progress in its web revenue for the quarter ended September 2023 to Rs 102 crore on improved working efficiency. The identical stood at Rs 57 crore within the September quarter of final 12 months.

Income from operations through the second quarter declined marginally to Rs 1,417 crore, in opposition to Rs 1,430 crore within the year-ago quarter.

The corporate reported an EBITDA (pre-foreign change) of Rs 224 crore within the reporting interval, whereas margins have been at 15.8%.

Revenue earlier than distinctive objects got here in at Rs 137 crore within the July-September quarter.

“Throughout the quarter now we have additional seen insurance policies that strengthen the sector to drive India’s inexperienced transition just like the concrete tips for tariff-based aggressive bidding, an announcement of the nationwide framework for selling vitality storage methods, inexperienced hydrogen requirements, and the technique for establishing offshore wind vitality initiatives,” mentioned Girish Tanti, Vice Chairman, Suzlon Group.

On the finish of the September quarter, the corporate’s order guide stood at 1,613 MW with a good break up between the S120 and S144 turbine orders, thereby giving it a sustainable provide pipeline to work with.

Suzlon mentioned its service enterprise continues to do nicely whereas forging and foundry enterprise SE Forge consolidated on its basis for future progress.The corporate has a web money of Rs 599 crore by September 2023, which is a marked shift from web debt of Rs 1,180 crore in March 2023.

“Now we have closed one other satisfying quarter in keeping with our marketing strategy for FY24. The spotlight for us in the previous few months has been the set up of the primary prototype of our S144 – 3 MW turbine at 160mts hub peak in Gujarat. This growth is aligned to our plans for commercialization of this product sequence,” mentioned JP Chalasani, CEO, Suzlon Group.

On Thursday, Suzlon shares closed practically 5% increased at Rs 32.85 on NSE.

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