Suzlon Energy shares hit 5% upper circuit as Q3 profit jumps 91%

Suzlon Energy shares gained 5%in the early trade on the NSE today after the company reported a 91% jump in consolidated net profit for Q3 yesterday evening. The stock, which hit the lower circuit yesterday, rebounded sharply, hitting the 5% upper circuit limit as investors cheered strong quarterly results and optimistic outlook.

The company’s shares have seen a correction of as much as 41% since their peak in September last year. Suzlon shares closed flat at ₹50.26 on Tuesday on the NSE.

Suzlon Energy shares have dropped 10.25% over the past five sessions and are down 23% in January so far. The company's current market capitalisation stands at ₹72,018.78 crore. Suzlon Energy's adjusted price-to-earnings ratio stands at 58.55 and has remained above 50 for the past four trailing quarters.

Suzlon Energy reported a 91% year-on-year jump in consolidated net profit for Q3, rising to ₹387 crore from ₹203 crore. Total income surged 91.3% to ₹3,002.36 crore, while expenses climbed 91.1% to ₹2,611.03 crore, driven by higher inventories and employee costs. EBITDA more than doubled to ₹500 crore, with a margin of 16.8%.

The company achieved record quarterly deliveries of 447 MW. Revenue from its wind turbine generator segment soared 132.5% to ₹2,335.65 crore, while the foundry and forging segment grew 64.8% to ₹146.22 crore. The operation and maintenance service segment saw a 12.9% increase, reaching ₹580.48 crore.