Suzlon‘s share price rocketed on Tuesday morning going up around 5% to hit a new 52-week high of ₹57.83.
What Happened: Suzlon reported a net profit of ₹302.29 crore for the quarter, a 200% increase from ₹101 crore last year. Revenue from operations was ₹2,015 crore, up 49% from ₹1,347 crore. EBITDA rose 86% year-on-year to ₹370 crore, with an EBITDA margin of 18.4%. The company’s order book grew to 3.8 gigawatts from 3.3 gigawatts in May 2024.
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Reacting to the results, Morgan Stanley maintained an “overweight” rating on Suzlon Energy, with a price target of ₹58.5. The brokerage said that the earnings for the June quarter were a strong beat, with deliveries of 274 megawatts, exceeding the estimated 250 megawatts. The WTG segment contribution margin stood at 22.4%. As per the analysts, the company’s balance sheet remains also robust.
Price Action: Suzlon’s share price was up 4.99% to trade at ₹57.83 as the markets opened on budget day.
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