Inox Wind Q4 net jumps over 77% to 209 crore

Wind power solutions provider Inox Wind today reported a 77.5% rise in consolidated net profit to Rs 209.2 crore for the quarter ended March 31, 2016.

The company had posted a net profit of Rs 117.8 crore in the year-ago period, it said in a BSE filing.

"During the quarter year ended March 31, 2016, goodwill on consolidation of Rs 165 lakh in respect of the subsidiaries is written off," the company said.

The consolidated income from operations during the January-March quarter increased to Rs 1,828.65 crore, over Rs 930.05 crore in the year-ago period.

"EBITDA margins for the fourth quarter of FY 2015-16 were 18.3%," the company said in a statement.

Sales for the quarter were 328 MW and the full-year sales were 826 MW. The company achieved its highest ever annual installations by commissioning projects with a cumulative capacity of 786 MW during FY 2015-16.

"The year gone by has been a momentous year for Inox Wind and the wind industry... During the year, Inox Wind doubled its manufacturing capacity to 1,600 MW by commissioning its integrated manufacturing unit in Madhya Pradesh, which is amongst the largest manufacturing facilities in Asia," company's Executive Director Devansh Jain was quoted as saying in the statement.