Q1 Results: Suzlon Registers 199% Growth In Net Profits

Q1 Results: Suzlon Registers 199% Growth In Net Profits

Indian Wind Energy Company Suzlon Group today announced the financial results for its first quarter (Q1) for Financial Year 2024-25. In its filing before BSE, the company reported a consolidated 199 percent growth in its net profits on a Year-on-Year (YoY) basis. Compared to the last quarter, the Pune-based company reported a 19% growth in its net profits, figures submitted by the company revealed. 

Suzlon reported a total net profit of Rs 302.29 crore in the latest quarter (Q1), compared to the total profit of Rs 254.12 crore in Q4 of FY24 and Rs 100.90 crore in Q1 of FY24. 

On the revenue front too, the company has seen a rise on a Year-on-Year (YoY) basis. However its revenue plunged marginally on a quarterly basis. The company reported a total revenue of Rs 2,044.35 crore in Q1FY25. During the same quarter in FY24, the company had reported a total revenue of Rs 1,361.68 crore. However, during the last quarter (Q4FY24), the company had reported a higher revenue of Rs 2,207.43 crore. 

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Thus on a QoQ basis, the company reported a negative revenue growth of 7.3 percent. However on a YoY basis, Suzlon reported a growth of around 50%. 

One of the highest deliveries 

Not only this, the Suzlon Group also claimed to register one of the highest Q1 deliveries in seven years at 274 MW. The renewable energy solutions provider got order books of 3.8 GW claiming it to be one the largest since its inception (29 years) .  

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The wind energy company made a net cash position of Rs 1,197 crores as of 30th June 2024. The company also reported an 86% increase in EBIDTA at Rs 370 crores with a 200% increase in PAT at Rs 302 crores.

Suzlon Wind Order Book

Girish Tanti, Vice Chairman, Suzlon Group, said, “We have consistently outperformed ourselves 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.”

JP Chalasani, Chief Executive Officer, Suzlon Group, said, “We are consistently performing in line with our business plan with one of our best Q1 performances in a long time. However, our top priority remains timely execution of our robust order book while upholding the highest standards of quality and ESG.”

Himanshu Mody, Chief Financial Officer, Suzlon Group, said, “The results speak for themselves. With revenue of Rs 2,016 crores and EBIDTA of Rs 370 crores, we have shown good top-line and bottom-line performance with increased margins. It is important to note that all our businesses have shown improvement in operational performance with tight control on costs, resulting in well-rounded and solid results.”

He added, “As an organisation positioned for growth and sectoral leadership, we continue to work on our systems, processes, compliance, and governance to drive financial discipline and build people capabilities for sustained success.”