Suzlon Energy on Monday reported stellar growth in its consolidated net profit for the quarter ended June 30, 2024, at Rs 302 crore — a 200% increase year-on-year versus Rs 101 crore posted in the corresponding quarter of the previous financial year. The company’s revenue from operations in the reported quarter stood at Rs 2,016 crore versus Rs 1,348 crore reported in the year-ago period, an uptick of 50%.
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The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) was reported at Rs 370 crore in Q1FY25, which was up from Rs 199 crore posted by the renewable energy company in Q1FY24. The increase in EBITDA was 86%. Meanwhile EBITDA margin for the reported quarter stood at 18.4% up from 14.8% in the year-ago period.
Among major milestones hit by the company in the April-June quarter were highest Q1 deliveries in 7 years at 274 MW along with highest quarterly EBITDA in 7 years, the company filing claimed. The company also reported its largest‐ever order book of 3.8 GW since inception (29 years).
The net cash position of Suzlon stood at Rs 1,197 crore as of June 30, 2024.
Commenting on the results, Girish Tanti, Vice Chairman, Suzlon Group, said the company has been able to perform consistently and has outperformed itself across all performance parameters for the last several quarters. “This is a good indication of our readiness to meet industry demand and leverage the tailwinds of the sector. Our largest‐ever order book of 3.8 GW gives us great visibility for the future. With significant deliveries of our flagship product series, 3.x MW S144 in Q1 FY25, we are in a strong position to service our current order book,” he added.
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The Suzlon Group is one of the leading renewable energy solutions providers in the world with 20.8 GW of wind energy capacity installed across 17 countries. Headquartered in Pune, Suzlon Energy is a vertically integrated organisation, with in‐house research and development (R&D) centres in Germany, the Netherlands, Denmark and India.
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