Suzlon Energy Ltd on Monday reported a 95.72 per cent year-on-year (YoY) surge in its second quarter consolidated net profit for financial year 2024-25 (Q2 FY25). During the quarter under review, profit came at Rs 200.20 crore as against Rs 102.29 crore in the year-ago period.
The renewable energy solutions provider's revenue from operations move up 47.68 per cent to Rs 2,092.99 crore in Q2 FY25 from Rs 1,417.21 crore in the corresponding period last year.
Suzlon said it posted a consistent YoY growth in EBITDA (earnings before interest, taxes, depreciation, and amortisation) at Rs 294 crore. EBITDA margin and net margin stood at 14.1 per cent and 9.6 per cent, respectively.
The company mentioned that its order book was at an all‐time high of 5.1 GW, including the country's largest wind order from NTPC.
Girish Tanti, Vice-Chairman at Suzlon Group, said, "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. As the renewable energy sector continues to evolve, we're seizing the chance to explore new opportunities that align with our strategic objectives. To help us crystallise the most relevant prospects, we've engaged a leading global management consulting firm to provide expert guidance and insights. This collaboration will enable us to shape our future growth trajectory, identify potential adjacencies, and make informed decisions that drive long‐term success."
As of September 30, 2024, the company workforce stands at over 7,700 employees.
Himanshu Mody, Chief Financial Officer at Suzlon, said, "We are making long‐term investments by implementing a slew of strategic measures to enhance our organisational capabilities and grow the business sustainably. This strategy will also help us in driving our competitiveness to enhance efficiency and profitability."
The quarterly results were declared post-market hours today. Earlier in the day, the stock settled 5.07 per cent up at Rs 70.85.