Suzlon‘s share price was upbeat on the bourses on Tuesday morning after the company posted strong results for the quarter ended September. The company’s market capitalisation was also close to the ₹1 lakh crore mark.
What Happened: The wind energy company’s net profit for the quarter was ₹200.2 crore, reflecting a 97% increase from ₹102 crore in the same period last year. Revenue from operations grew 48% year-on-year to ₹2,093 crore, up from ₹1,417 crore in the corresponding quarter last year.
See Also: Tata Tech Q2: Net Profit Down 2.8% To ₹157.41 Cr, Misses Estimates
EBITDA for the September quarter stood at ₹294 crore, an improvement from ₹225 crore in the same quarter last year. The EBITDA margin was 14.1% in the September quarter.
The company's order book reached an all-time high of 5.1 gigawatts, including India’s largest wind order from NTPC, up from 4.7 gigawatts at the end of September.
Price Action: Suzlon’s share price was up 3.04% to trade at ₹72.99 as the market opened on Tuesday.
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