Inox Wind shares skyrocket 20% to fresh high after posting Rs 50 crore Q1 profit
Shares of Inox Wind zoomed to lock at an upper circuit of 20% to its fresh all-time high of Rs 209 after the company posted a profit of Rs 50 crore in the June quarter against a loss of Rs 65 crore in the corresponding quarter of the last year.
The company's consolidated revenue rose 85% YoY and 16% QoQ to Rs 651 crore for the quarter ended June 2024. The consolidated EBITDA stood at Rs 157 crore for the said period, which is up by 349% YoY.
Inox Wind stated that it has reported its best Q1 financial performance in the history of the company and posted its largest ever order book of > 2.9 GW (up 254% YoY), which provides huge revenue growth visibility.
Promoters of the company (Inox Wind Energy) infused Rs 900 crore in July 24 resulting in Inox Wind becoming a net cash company.
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“We have commenced FY25 on a very strong note. With our manufacturing capacities and supply chain already in place, and backed by our large diversified order book of > 2.9 GW, we are looking at a massive scale up in operations. We are receiving a very strong response from customers for our products. We have already won 611 MW of orders in FY25, including repeat orders from marquee customers. Active discussions across multiple IPPs, PSUs, and C&I customers provides us a large order inflow visibility. Infusion of Rs 900 crores by IWEL, the parent of IWL, has resulted in the company becoming net cash positive, which will
