Suzlon Energy Q2FY25 results: Net profit rises 96% at Rs 200 crore

Suzlon Energy posted a 95.71 per cent rise in consolidated net profit (attributable to the owners of the company) due to increased revenue driven by robust order inflow for the quarter ended September 30, 2024 (Q2FY25).

 

The renewable energy major’s net profit was recorded at Rs 200.20 crore for Q2FY25, missing analyst estimates.

 

Revenue from operations rose 47.6 per cent to Rs 2,092.99 crore for Q2FY25, compared with Rs 1,417.21 crore in the corresponding period last year.

 

Expenses increased 48.6 per cent to Rs 1,919.65 crore for Q2FY25, compared with Rs 1,291.26 crore in the previous year.

 

“In a relatively challenging environment due to prolonged heavy monsoons, we have been able to deliver consistent growth with robust margins and a 96 per cent Y-o-Y profit," said Himanshu Mody, chief financial officer, Suzlon Group.

 

The order book is currently recorded at 5.1 gigawatts (GW). This total is divided into three primary segments: Commercial & Industrial (C&I), Captive & Retail, which account for 54 per cent of the order book or 2.7 GW; Central & State Bids, contributing 23 per cent or 1.2 GW; and Public Sector Undertakings (PSUs), representing 23 per cent or 1.2 GW.

 

“Our core business is now on a solid foundation to capitalise on market momentum. We’ve fortified our leadership team, stabilised our new product offerings, ramped up our manufacturing capacity, enhanced our project execution capabilities, and built a robust order book,” said Girish Tanti, vice chairman, Suzlon Group.

 

Suzlon Group entered into an agreement with NTPC Green Energy, the renewables arm of NTPC, last month to build a 1,166 megawatt (MW) project in Gujarat, the country’s largest wind energy order to date.

 

Suzlon’s Ebitda margin for Q2FY25 was recorded at 14.1 per cent, a slight decrease from 15.9 per cent in the corresponding period last year.

 

“We are making long-term investments by implementing a series of strategic measures to enhance our organisational capabilities and grow the business sustainably. This strategy will also help drive our competitiveness to enhance efficiency and profitability," said Mody.

 

The company's shares closed at Rs 70.85 per share, up 5.07 per cent, while the benchmark Sensex was higher by 0.76 per cent at 80,005.04 points.