Inox Wind Results

Inox Wind shares gain 7% after swinging into Rs 90-cr profit in Q2FY25

Inox Wind posted a net profit of Rs 90.2 crore for the quarter ended September 30, helped by higher income

Updated On : 28 Oct 2024 | 12:26 PM IST

Inox Wind Q2 results: Profit increases to Rs 90 cr, revenue at Rs 742 cr

Inox Wind Ltd (IWL) on Friday posted a net profit of Rs 90.20 crore for the quarter ended September 30, helped by higher income. It had incurred a loss of Rs 26.84 crore in the July-September period of FY24, the company said in an exchange filing. Total income increased to Rs 741.74 crore from Rs 384.40 crore in the year- ago period. Expenses too rose to Rs 647.93 crore from Rs 412.54 crore. n a separate statement, the company said its order book touched 3.3 gigawatt (GW), which includes 1.2 GW of fresh orders in the first half of FY25. During the quarter, Inox Wind signed a consortium agreement with banks for Rs 2,200 crore facilities, largely non-fund based, sanctioned on the financial strength of IWL's balance sheet. Its subsidiary Resco Global raised Rs 350 crore equity capital from marquee investors. The company's listed subsidiary Inox Green Energy Services Ltd has reported a profit of Rs 6.06 crore as against Rs 5.76 crore in the same quarter of 2023-24. It had an income o

Updated On : 25 Oct 2024 | 7:14 PM IST

Inox Wind Q1 results: PAT rises to Rs 50 cr, revenue surges to Rs 651 cr

Inox Wind Limited (IWL) on Friday posted a Rs 50 crore profit after tax during the June quarter on account of a surge in income. It had reported a loss of Rs 65 crore in the April-June quarter of the preceding financial year, the company said in an exchange filing. The company's total revenue surged 85 per cent to Rs 651 crore from Rs 352 crore in the year-ago period. Devansh Jain, Executive Director, INOXGFL Group, said "The hard work of last several years has started to yield results. Also, IWL's parent, IWEL has infused Rs 900 crore recently, making the company net cash positive and strengthening the balance sheet to capitalise on the multidecadal opportunity in the Indian wind sector." The company has an orderbook of around 2.9 gigawatt, IWL CEO Kailash Tarachandani said adding the company won orders of 611 MW in the ongoing FY25.

Updated On : 09 Aug 2024 | 6:47 PM IST

Promoter of Inox Wind divests 4.6% stake for Rs 904 cr via open market

Inox Wind Energy, one of the promoters of Inox Wind Ltd, on Tuesday divested a 4.6 per cent stake in the company for Rs 904 crore through open market transactions. Inox Wind is India's leading wind energy solutions provider. It is a subsidiary of Inox Wind Energy Ltd (IWEL). According to the bulk deal data available on the National Stock Exchange (NSE) and the BSE, Inox Wind Energy sold a total of 6 crore shares on the bourses, amounting to a 4.6 per cent stake in Noida-based Inox Wind Ltd. Shares of Inox Wind tumbled 10 per cent each to close at Rs 147.65 and 147.75 per piece on the BSE and NSE, respectively. IWEL offloaded 5.50 crore shares of Inox Wind on the NSE and the promoter entity sold 50 lakh shares of the company on the BSE. The shares were disposed of in the range of Rs 150.58-152.52 apiece, taking the transaction value to Rs 904.45 crore. After the stake sale, shareholding of Inox Wind Energy declined to 33.83 per cent from 38.43 per cent in Inox Wind. Also, the comb

Updated On : 28 May 2024 | 11:35 PM IST

Inox Wind eyes profit in coming quarters amid market upswing: INOXGFL

Wind energy solution provider Inox Wind is likely to continue its growth trajectory after its business turned around in the December 2023 quarter, driven by a strong order book and higher revenues, a top official has said. Its parent INOXGFL Group's Executive Director Devansh Jain said the group firm is expected to continue to register a consistent rise in its profit after tax (PAT) over the next few quarters, backed by growth in business amid favourable market conditions. Inox Wind Limited (IWL) is a group company of USD 8 billion INOXGFL Group, engaged in the chemicals and renewables space. On Friday, Inox Wind posted a consolidated net profit of Rs 1.81 crore for the October-December 2023 period after reporting a back-to-back loss for the last five years. In a telephonic interaction, the executive director attributed "robust order book and revenue growth of over 100 per cent to Rs 506.88 crore, aided by advantageous market conditions" as the key factors leading to the turnaround

Updated On : 11 Feb 2024 | 5:06 PM IST

Inox Wind Q3 results: Profit rises to Rs 1.81 cr on back of higher revenues

Inox Wind on Friday posted a consolidated net profit of Rs 1.81 crore in the December 2023 quarter on the back of higher revenues. It had suffered a loss of Rs 287.86 crore in the October-December quarter a year ago, Inox Wind said in an exchange filing. The company's total income rose to Rs 506.88 crore in the reporting quarter from Rs 237.68 crore in the year-ago period. In a separate statement, the company said its EBIDTA was at Rs 99.5 crore in the quarter against an EBITDA loss of Rs 172.5 crore in the same quarter of 2022-23. The company's orderbook stood at 2.6 GW, the statement said. Devansh Jain, Executive Director, INOXGFL Group said efforts put in over the last few quarters have yielded a remarkable turnaround for Inox Wind in the third quarter, which is reflected in the current order book and the reported numbers. "I firmly believe that we have just embarked on a massive growth journey. With all the levers aligned, which includes the strong promoter backing of the com

Updated On : 09 Feb 2024 | 7:15 PM IST

Inox Wind Q2 results: Net loss narrows to Rs 26.8 cr due to higher revenues

Inox Wind's consolidated net loss narrowed Rs 26.84 crore in the September quarter due to higher revenues. Consolidated net loss of the company stood at Rs 133.81 crore in the year-ago period, as per a BSE filing. Total income from operations rose to Rs 384.40 crore during the quarter from Rs 111.89 crore in the same period a year ago.

Updated On : 27 Oct 2023 | 5:13 PM IST