Inox Wind reported its earnings for the July to September quarter on Friday after markets closed.

What Happened: The Suzlon peer’s net profit came in at ₹92.89 crore against a net loss of ₹24 crore in the same period a year ago. In the previous quarter, the company had reported a profit of ₹47 crore.

Revenue from operations soared 98% to ₹732.24 crore compared to ₹371 crore, that the company reported in the corresponding period of 2023. The company’s EBITDA was up 171% YoY to ₹189 crore.

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The firm said this was their strongest financial Q2 performance in eight years where it recorded the highest quarterly PAT since Q3 FY17. Inox Wind recorded the largest-ever orderbook of about 3.3 gigawatts in Q2. FY25 order inflows stand at about 1.2 gigawatts with a strong order pipeline, the company added in its statement.

The company had been on an order-winning spree this quarter. It received a letter of Intent (LoI) from IGREL Renewables to execute a 550-megawatt wind capacity project on a turnkey basis. The project, which will be executed over the next two years, will span multiple sites in Gujarat, Rajasthan, and Madhya Pradesh.

On August 6, 2024, the company bagged a 201-megawatt order from Integrum Energy Infrastructure for the supply of equipment for Inox Wind's 3-megawatt Wind Turbine Generators. A week later, it secured a 51-megawatt equipment supply order from Everrenew Energy Private Ltd to supply its 3-megawatt Wind Turbine Generators (WTGs) for a project in Tamil Nadu.

Price Action: Shares of Inox Wind closed 2.25% lower at ₹204.50 crore.

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