Inox Wind's Q3 net up 2.41% at Rs 103 cr

The Wind energy solutions provider, net profit in the corresponding quarter of the previous year stood at Rs 100.57 cr

Wind energy solutions provider Inox Wind on Monday reported a 2.41 per cent rise in consolidated net profit at Rs 103 crore for the December quarter.

The company's net profit in the corresponding quarter of the previous year stood at Rs 100.57 crore, Inox Wind Ltd said in a regulatory filing.

The company's net profit during the April-December period rose to Rs 242.63 crore from Rs 178.54 crore in the year-ago period, it said.

Total income from operations also increased to Rs 941.44 crore during the third quarter from Rs 932.39 crore in the same period a year ago.

During the December quarter, the company's wholly-owned subsidiary Inox Wind Infrastructure Services Ltd (IWISL) acquired 100 per cent of the equity shares in Satviki Energy Private Limited (SEPL) and Sarayu Wind Power (Tallimadugula) Private Limited (SWTPL), the statement said.

"As a result of these acquisitions, SEPL and SWTPL have become wholly-owned subsidiaries of IWISL with effect from November 19, 2015 and December 9, 2015 respectively and the above consolidated Results include results of SEPL and SWTPL from the respective dates," it said.

The group is engaged in manufacturing of Wind Turbine Generators and also provides related erection, procurement and commissioning (EPC) services, operations and maintenance (O&M) and common infrastructure facility services for WTGs and development of projects for wind farms, which is considered as a single business segment.