Suzlon Energy shares hit 5% upper circuit as Q3 profit jumps 90% YoY to Rs 387 crore

[hfe_template id='11223'] [ad_1]
Suzlon Energy shares surged 5% in early trade to hit the upper circuit at Rs 52.76 in intraday trade on Wednesday after the company reported a 90% year-on-year (YoY) surge in net profit to Rs 386.92 crore for the quarter ended December 31, 2024. Revenue from operations also saw a sharp increase of 91% YoY, reaching Rs 2,968.81 crore.

The company’s revenue from operations during the December 2023 quarter was Rs 1,552.91 crore, while the renewable energy firm had reported a profit of Rs 203.04 crore in the third quarter of the previous year.


Suzlon Energy’s total income for Q3 FY25 rose sharply by 91% YoY to Rs 3,002.36 crore, compared to Rs 1,569.71 crore in the same quarter last year. Notably, the company’s EBITDA more than doubled to Rs 500 crore, with an EBITDA margin of 16.8% during the quarter.

Also Read: Stocks in news: Bajaj Finance, Maruti, Tata Motors, SBI Card, Suzlon Energy

Suzlon said it recorded its highest-ever quarterly deliveries, achieving 447 MW in Q3 FY25. The wind turbine generator segment was the primary growth driver, with revenue from the segment surging over 132% YoY to Rs 2,336 crore, compared to Rs 1,004 crore in the corresponding period last year. Additionally, the foundry and forging segment also demonstrated strong performance, with revenue climbing 65% YoY to Rs 146 crore.Following the results, Morgan Stanley maintained an 'Overweight' rating on Suzlon Energy with a target price of Rs 71, citing strong Q3 performance.

The brokerage highlighted the company’s 5.5GW order book, expected to be executed in Q4FY25 and FY26, and noted improving wind industry constraints related to land acquisition from FY26. Additionally, turbine inquiries are rising, and Suzlon plans a capital expenditure of Rs 350-400 crore for new blade manufacturing lines in Madhya Pradesh and Rajasthan.

Also Read: Q3 results today: Bajaj Finance, Maruti among 94 companies to announce earnings on Wednesday

Commenting on the results, JP Chalasani, CEO of Suzlon Group, said, “We are experiencing consistent quarter‐on‐quarter growth… Our manufacturing capacity expansion in India is progressing as planned to fulfil our record‐high order book of 5.5 GW. With our ramp‐up strategy on track and operational preparedness at optimal levels, we can sustain momentum, create long‐term value for our stakeholders."

Also Read: Biggest stock market crash coming in February: Rich Dad Poor Dad's author Robert Kiyosaki

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

[ad_2] Source link https://mrgaga.in/suzlon-energy-shares-hit-5-upper-circuit-as-q3-profit-jumps-90-yoy-to-rs-387-crore/?feed_id=46330&_unique_id=6799dab66ebfd

Comments

Post a Comment

Popular posts from this blog

India VIX jumps 100% in one month. Could fear levels take Nifty further down?

Image
[hfe_template id='11223'] [ad_1] Volatility in Indian equity markets has surged sharply over the past month, with the India VIX nearly doubling as geopolitical tensions and global uncertainty triggered aggressive selling in equities. India VIX, often referred to as the market’s fear gauge, has jumped close to 100% over the past month, reflecting growing nervousness among investors. The spike has coincided with a sharp correction in the broader market, with the Nifty 50 declining about 8% during the same period. The escalation of tensions involving the United States, Israel and Iran has intensified market anxiety in recent days, pushing crude oil prices sharply higher and triggering a global risk-off sentiment. However, analysts note that volatility had already been building even before the conflict escalated, reflecting broader concerns around global growth, foreign capital outflows and stretched valuations in equities. The heightened uncertainty translated into a sharp ...
Read more

Can Sensex, Nifty snap 2-day fall on Monday? 7 factors that could decide market mood this week

Image
[hfe_template id='11223'] [ad_1] Benchmark indices Sensex and Nifty ended the week on a bearish note, closing over a percent lower each as a deepening selloff in IT stocks rattled investor sentiment amid mounting fears of AI-led disruption. Further, stronger-than-expected jobs data for January dampened hopes of a US Fed interest rate cut. Here are 7 factors that could decide market action in the coming week: 1.) Infosys, Wipro ADRs rebound - After a brutal two-day selloff that saw Infosys and Wipro ADRs plunge as much as 14.5%, Friday’s session brought a much-needed breather. Bargain hunting kicked in at lower levels, sparking a sharp rebound as Infosys climbed 3% while Wipro gained 4%—helping both stocks close the week on a far stronger note. International brokerage firm JP Morgan has a message for panic-stricken investors: IT services firms are the indispensable "plumbers of the tech world" and their dividend yields have now hit levels last seen only during ...
Read more

Waaree Energies shares in focus after Q4 profit rises 34% to Rs 619 crore, revenue up 36%

Image
[hfe_template id='11223'] [ad_1] Waaree Energies shares will be in focus on Wednesday after the solar panel maker reported a strong Q4 performance, with net profit rising 34.1% year-on-year (YoY) to Rs 618.9 crore for the quarter ended March 31, 2025. In the same quarter last year, the company had reported a profit of Rs 461.5 crore. Revenue from operations jumped 36.4% to Rs 4,003.9 crore, up from Rs 2,935.8 crore in the year-ago period, according to the company’s regulatory filing. EBITDA more than doubled to Rs 922.6 crore in Q4 FY25, up 120.6% from Rs 418.3 crore in the same quarter last year. The EBITDA margin improved to 23% from 14.3% a year ago. The company produced 2.06 GW of solar modules in the fourth quarter, up from 1.35 GW in the same period last year. For the full year, module production reached 7.13 GW, compared to 4.77 GW in FY24. For the full financial year FY25, revenue rose 27.62% YoY to Rs 14,846.06 crore. Profit after tax more than doubled to Rs 1,9...
Read more