Suzlon Q3 profit surges 91% to ₹387 cr, revenue also up 91%

Suzlon Energy reported a 91% year-on-year surge in consolidated net profit for the quarter ended December 31, rising to ₹387 crore from ₹203 crore in the same period last year. The Q3 results were announced after market hours today. Suzlon shares inched up 0.42% to close at ₹50.44 from the previous day’s close of ₹50.23 on the NSE today. The company’s shares hit the lower circuit today, reaching an intraday low of ₹47.81. The stock has fallen 41% from its peak in September last year.

Total income surged to ₹3,002.36 crore, up 91.3% from ₹1,569.71 crore. Expenses increased 91.1% to ₹2,611.03 crore, compared to ₹1,366.58 crore, driven by higher inventories and employee benefit costs. The company's EBITDA more than doubled to ₹500 crore, while its EBITDA margin stood at 16.8% in Q3. Suzlon Energy achieved record quarterly deliveries of 447 MW during the quarter.

“Our manufacturing capacity expansion in India is progressing as planned to fulfil our record‐high order book of 5.5 GW. With our ramp‐up strategy on track and operational preparedness at optimal levels, we can sustain momentum, and create long‐term value,” JP Chalasani, CEO, Suzlon Group said in a statement.

The wind turbine generator segment reported a significant 132.5% growth to ₹2,335.65 crore in the October-December quarter, up from ₹1,004.48 crore in the year-ago quarter. The foundry and forging segment increased by 64.8%, climbing to ₹146.22 crore from ₹88.69 crore during the same period. Meanwhile, the operation and maintenance service segment grew 12.9%, reaching ₹580.48 crore compared to ₹513.93 crore, during the same period.

“One emerging trend fuelling our growth is our strategic emphasis on Commercial & Industrial (C&I) and Public Sector Undertaking (PSU) customers,” Girish Tanti, Vice-Chairman at Suzlon Group said in a statement.