Indowind Energy reports 6% decline in Q1 net profit to Rs 1.51 cr

Indowind Energy on Wednesday reported an over 6 per cent decline in its consolidated net profit at Rs 1.51 crore in the June quarter, mainly due to lower revenues.

The company had reported a consolidated net profit of Rs 1.61 crore in the quarter ended on June 30, 2022, according to a regulatory filing.

Total income of the company also fell to Rs 7.67 crore during the quarter from Rs 7.83 crore a year ago.

The board has approved raising capital of up to Rs 50 crore for meeting the project expansion requirements and has constituted a committee to finalise the type of offering in line with statutory & regulatory requirements, in consultation with the investment bankers & legal advisers, the company said.