Q2 Results: Inox Wind Converts Losses Into Profit

Q2 Results: Inox Wind Shows Stellar Performance, Converts Losses Into Profit

Indian wind energy company Inox Wind has announced its financial results for the latest quarter (Q2). In its latest disclosure on consolidated results, the company reported a surge in its revenues and net profits, both annually and quarterly.

The company reported a total revenue of Rs 741.74 crore in the latest quarter, compared to Rs 650.52 crore in the last quarter Q1FY25. On the other hand, the total revenue reported last year in Q2 stood at Rs 384.40 crore. Thus, on an annual basis (YoY), the company reported a surge of 93% in its revenue. Quarterly (QoQ), the firm reported a surge of 14 percent.

The company’s stellar performance in net profits was also conspicuous.  The firm has reported a total net profit of Rs 90.22 crore. The company had reported a net profit (PAT) of Rs 47.17 crore in Q1FY25. On the other hand, it had reported a loss of Rs 29.23 core in Q1FY25. Thus on a quarterly basis, the firm reported a surge in net profit by 91%.

Inox Wind said that it delivered another quarter of strong results in Q2FY25 and is on course to achieve its best-ever full-year profitability in FY25. The company’s order book at ~ 3.3 GW has increased by 161% YoY and comprises of a healthy mix of PSU, IPP, C&I and retail customers. In H1 FY25, IWL secured orders totalling ~ 1.2 GW across multiple customers and is negotiating for multiple additional orders as it targets 2 GW of execution in FY27.

Devansh Jain, Executive Director, INOXGFL Group, said on the occasion, “The strong Q2 performance is another firm indication of the massive growth trajectory that Inox Wind is poised to deliver. I am especially pleased that on the back of the tremendous efforts put by our team over the past two years, our balance sheet has now become net cash and we have delivered positive operational cash flows in H1 FY25, which is bound to significantly increase going ahead. I am thankful to all our stakeholders for their support and am confident of significant value creation going ahead as we strive to deliver beyond expectations.”