Suzlon Energy shares slip after opening 3% up; Q2 profit doubles to ₹201 crore; firm's order book stands at 5.1 GW

Last seen, the stock was trading 1.43% lower at ₹69.84 on the BSE.

The renewable energy solutions provider's consolidated net profit almost doubled to ₹201 crore in the September quarter compared to the year-ago period.

The company reported a consolidated net profit of ₹102 crore in the quarter ended on September 30, 2023, a statement said.

Total income rose to ₹2,121.23 crore in the second quarter of 2024-25 from ₹1,428.69 crore in the same period a year ago.

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

As the renewable energy sector continues to evolve, "we're seizing the chance to explore new opportunities that align with our strategic objectives. To help us crystallise the most relevant prospects, we've engaged a leading global management consulting firm to provide expert guidance and insights. This collaboration will enable us to shape our future growth trajectory, identify potential adjacencies, and make informed decisions that drive long-term success," Tanti added.

The order book currently stands at 5.1 GW, the earnings release added.

Net revenue of the company came in at ₹2,093 crore, up 47.7% against ₹1,417 crore reported in the year-ago period. 

EBITDA, or earnings before interest, taxes, depreciation, and amortisation, surged 30.6% year-on-year (YoY) to ₹294 crore. 

However, the EBITDA margin slipped to 14.1% from 15.9% in the corresponding quarter of the previous fiscal. 

The company added that its latest innovation, the S144—designed in India specifically for low wind conditions—has secured a firm order book of 4.7 GW. We are gearing up capacity to enhance the manufacturing efforts of this product.