Inox Wind posts Rs 37 cr net profit in Q4; order book at 2.7 GW

New Delhi: Inox Wind Ltd on Friday reported a consolidated profit of Rs 36.72 crore for the March 2024 quarter, mainly due to increased income.

It had posted a net loss of Rs 119.04 crore in the January-March period of the preceding fiscal, the company said in an exchange filing.

During the fourth quarter of FY24, the company's total income surged to Rs 563.07 crore from Rs 193.83 crore a year ago.

The company's expenses stood at Rs 512.50 crore during the period under review against Rs 312.43 crore in the year-ago period.

Kailash Tarachandani, CEO of Inox Wind, said, "Q4 has been a milestone quarter for the company as we successfully transitioned to 3 MW WTG (wind turbine generators) supplies from 2 MW WTGs. Our debt levels have also come down drastically and we expect to be net debt free within H1 FY25".

The company secured the single largest wind project order of 1,500 MW from a leading power utility during the quarter, resulting in a healthy order book of 2.7 GW (excluding letter of intent) having a revenue potential of Rs 18,000 crore.

Part of USD 8 billion INOXGFL Group, Inox Wind Limited (IWL) is India’s leading wind energy solutions provider servicing independent power producers (IPPs), utilities, public sector units (PSUs) and corporate investors.