Suzlon Reports 96% Surge In Net Profits In Q2 

Suzlon Reports 96% Surge In Net Profits In Q2 

Indian wind turbine manufacturer Suzlon Energy today announced its financial results for the second quarter (Q2). It also announced the half-yearly (H1) results for the current fiscal year. The company in its results reported a surge in its profits and revenues on a yearly and half-yearly basis.

The Maharashtra-based company reported a total profit of Rs 200.60 crore in Q2FY25. Suzlon has earlier reported a total revenue of Rs 102.29 crore in Q2FY24 and Rs 302.29cr in Q1FY25. Thus on a yearly basis (YoY basis), the company reported a surge in its net profits by 96%. However, on a Quarterly basis (QoQ), the company reported a downfall in its net profit (Profit After Tax-PAT) by 34%.

In terms of revenue, the company reported a total revenue of Rs 2,121.23 crore in Q2FY25. This is in contrast to its revenue of Rs 2,044.35 crore in Q1FY25 and Rs 1428.69 crore in Q2FY24. Thus, on a yearly basis, the company reported a surge in its revenue by  48%. On the other hand, Suzlon’s revenue increased by 3.7% on a quarterly basis.

Half-yearly results

The wind turbine maker reported a surge in its overall revenue and PAT on half-yearly results too. The firm in H1 of FY24 had reported a total revenue of 2,790.37 crore, which surged to Rs 4,165.58 crore in H1 of FY25. Thus, a comparison of H1 results on a yearly basis showed a 49% surge in its revenue.

A comparison of H1 results also reported a surge in its net profit. While Suzlon reported a total revenue of Rs 203.19 crore in H1FY24, it reported a total of Rs 502.89 crore in H1FY25, showing a surge of 147%.

Order Book

The company said that the order book for Q2 stood at 5.1 GW. This comprises 54% of order books from C&I, captive and retail sector. IOt also bagged 23% orders from central and state bids while its orders from PSUs stood at 23%.

The company said that it also delivered 256 MW orders in line with the market expectations. It also highlighted that the firm continued to see consistent YoY growth in EBITDA at Rs 294 crore. It also said that its latest innovation- S144 wind turbines secured 4.7 GW orders. It said that it has planned to enhance the manufacturing efforts of this product.

Girish Tanti, Vice Chairman, Suzlon Group, said, “Our core business is now on a solid foundation to capitalize on the market momentum. We’ve fortified our leadership team, stabilized our new product offerings, ramped up our manufacturing capacity, enhanced our project execution capabilities, and built a robust order book.”