Inox Wind shares slipped into the red despite a strong financial performance in the March quarter, where its consolidated net profit surged over fourfold to Rs 186.87 crore. The stock opened nearly 3% higher on June 2 but lost momentum as the session wore on, eventually trading in negative territory.
At 10:33 am on June 2, shares of company traded 1.5% lower at Rs 192.13 on the National Stock Exchange. The stock has risen 29% in the last one year and nearly 14% in the last one month. Currently, it trades nearly 27% below its 52-week high level, while 54.5% higher than its 52-week low level, which it touched in June last year.
The robust growth in earnings for the fourth quarter was mainly driven by a more than two-fold increase in consolidated revenue during the period. Sequentially, its revenue saw a near 40% growth while its consolidated net profit grew over 60% sequentially.
For the full financial year ended March, the company recorded a consolidated net profit Rs 448.22 crore, compared to a loss of Rs 35.65 crore in the year-ago period. Its revenue, on the other hand, rose two times on year in FY25. The board of directors has also recommended a final dividend of Rs 1.50 per equity share.
The company’s order book stands at 3.2 GW comprising customers such NTPC, CESC, NLC India, Continuum, Amplus, Hero Future Energies, among others, Kailash Tarachandani, group CEO of renewable business, said.
“I am also delighted to announce that the Hon’ble NCLT has approved the scheme of arrangement between Inox Wind Energy and Inox Wind, which further fortifies Inox Wind’s balance sheet. With the strong and favourable macroeconomic environment for the Indian renewable energy sector, our Group is well positioned to capitalise on the opportunities…” Devansh Jain, executive director of INOXGFL Group said.
